think tank, page-61

Looks like demand for physical picked up quite a bit again in Asia on this latest correction. Good sign. Hopefully the price responds by at least holding around current levels as a low. $1200-1300 should be good enough for ABU to make strong profits. Anything higher is a bonus.

Market Nuggets: Standard: Gold Demand Rises With Prices Below $1,300/Oz
Wednesday August 7, 2013 11:52 AM
Gold demand has picked up again after prices fell back below $1,300 an ounce, says Standard Bank. "Looking at China first, two days ago, when gold was still above $1,300, the physical premium on the Shanghai Gold Exchange reached a high of $22.83; yesterday morning, when gold dropped below $1,300, the high was $26.25," the bank says. By contrast, the premium was $14.87 last week when gold was above $1,330. "The physical premium indicates strong gold-bar demand out of China," Standard says. The bank later adds: "More broadly, the Standard Bank Gold Physical Flow Index, which captures the physical demand trend in Asia, also increased substantially since the start of the week with the gold price below $1,300, not far from levels seen at the start of July when gold had moved into backwardation."

http://www.kitco.com/news/2013-08-07/kitcoNewsMarketNuggets20130807-kitco-market-nugget.html