Central bank buying will add another brick on the wall, and China will play the lead role.
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Ball cited liquidity from global central banks, gold buying by central banks, demand from gold-backed exchange-traded funds and lack of producer selling.
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This base is clearly being influenced by central bank buying interest.
After all, Frank Giustra, Vancouver-based minerals entrepreneur, strongly believes right now that it is central bank buying that will be the main factor in the rise of the gold price that is coming down the pike.
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With G7 leaders announcing they were ready to take coordinated action to ensure financial stability and the European Central Bank buying Spanish and Italian debt, all eyes are on Ben Bernanke as the Fed meets on Tuesday in the context of an FOMC meeting.
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Some of the central-bank buying is due to a rebalancing of portfolios, Dempster said.
The central bank is buying tens of billions of dollars of bonds each month to stimulate the economy.
Yet another factor likely to offer some support even after the price peak is central-bank buying, Tremblay said.
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On September 25, 2012, the news was that central banks were buying gold.
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His plan, a combination of big government spending as well as an aggressive central bank asset buying programme, has been dubbed Abenomics.
It should be noted that central banks bullion buying has increased.
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While rich-country central banks are busy creating money, developing-world central banks are buying gold a record 158 tonnes in the second quarter, according to the World Gold Council.
During just the first five months of the year, the central-bank buying amounted to 15% of global mining production during the same period, said a research note this week from Commerzbank.
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Analysts also cited continued central-bank buying of gold after news that the Bank of Korea bought 25 metric tons over the past two months, its first purchases since the 1997-98 Asian financial crisis.
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Analysts also said gold is underpinned by ongoing European debt issues, a continuation of central-bank buying after Bank of Korea purchases, plus still-soft U.S. economic data that means continued loose monetary policy and perhaps even more stimulus.
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The euro itself, which in principle ought to be immune from these contractual disputes, might soon enter a real currency crisis, either from the sovereign debt the European Central Bank is buying with freshly printed money or from general negligence.
All that matters now is that central banks keep buying back bonds from banks and that the banks use the newly printed money they get from the government to keep buying enough new government bonds to keep the game going.
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Crucially, the European Central Bank is to start buying bonds - government debt - something the European Central Bank said it would never do when it was established.
Rather than buying real estate, lumber or diamonds, central banks around the world are buying gold.
Bond prices have also been the direct beneficiary of massive bond-buying by central banks.
UK-based computer chip designer Imagination Technologies is buying US central processing unit (CPU) architect Mips's business operations and some of its patents.
Despite a sickly dollar, American bond yields have remained remarkably low for the very reason that Asian central banks have been buying huge quantities of Treasury bonds.
In addition, central banks have been buying more gold, most recently, the Reserve Bank of India, while bought 200 tonnes from the International Monetary Fund at the start of this month.
But if you don't have health insurance through work or you have been buying your own as a sole proprietor, the exchanges will provide central sites for comparing plans and buying individual and family insurance.
There has been a gradual increase in buying from some central banks such as China, India, Thailand, Russia and Mexico.
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Buying by the central banks and riots in the streets are supposed to be perfect conditions for a rise in gold.
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We still do not know how aggressive the European Central Bank will be in buying bonds, and so lowering the borrowing costs of troubled countries.
But Chinese companies have successfully expanded overseas, buying assets in Central Asia, Africa, South America and Canada, and even small stakes in the Gulf of Mexico.
Treasury-bond yields have not risen yet but that is because they have been suppressed by the effects of quantitative easing (QE) and buying by Asian central banks.
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