funny, isn't it???, page-62

This has been true SP and may well still be true but it can easily change.
If the price of gold comes down low enough, Indian buying - re-stocking- may well come into play. I would think they would underpin the value of gold.
Also if the price of gold comes down low enough some gold mining will come to a halt leading to an even greater scarcity.
Traditional Indian buying has been one of the key fundamentals of gold although not right now apparently.
Imagine if there was eager Indian buying at the same time as gold investors and central banks were buying. There wouldn't be enough gold available.
The gold scrap market has probably been quite big lately but that doesn't last for ever either.
I still think it is likely that gold will indeed rise above one thousand US again but who knows what it will be in Australian dollars?