what's going on?, page-34

Alan Kohler's Report today supports this too:
"Gold seems to have broken out of its 18-month downtrend, having hit US$1300 on Thursday for the first time since October, and Newcrest has rallied 60% since mid-December, an astonishing rise that clearly suggests the market thinks gold has further to go this year.

The rise in the gold price seems to be due to a combination of short-covering by speculators and renewed physical demand from China after the Lunar New Year. There’s also an expectation that India might return to the market in force after the forthcoming elections because the government will ease import restrictions.

Limiting any increase in the gold price will be the US dollar, which is expected to rise through 2014. But there have been signs that the US dollar and gold have decoupled to some extent, and gold looks set to keep rising, as Chinese and Indian demand grows and inflation fears rise."