They are capable of it, but I don’t really see why they would. Making the tokens cost more gold would mean less people willing to buy them on the AH and therefore less people selling tokens. I think the prices have just exploded because of the mount releasing. As someone else mentioned on here, I believe Blizzard just sets a minimum price for tokens.
No mods online? That sucks big, there’s several mods I really don’t want to do without.