Those reasons were given by Donald Doyle, CEO of Blanchard, and they're elaborated upon in a MineWeb article. The four reasons are: increasing central-bank demand for gold, particularly from Russia and Venezuela; the continuation of the near-zero interest rate policy, which lowers the opportunity cost of holding gold; China revaluing the yuan, which would lower the value of their U.S. Treasury holdings and prompt a desire to diversify (perhaps ahead of time); and, continued trouble in Euroland and associated sovereign risk.
They're more headline-oriented than the usual ones given, which include the declining-supply factor that seems to have gone underground for the moment. Blanchard is a major gold dealer.
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