You didn't ask me, but I'll stick my face into your conversation.
Take #1 - Two major governments bought massive amounts of Au. They have major heft and are influential players in the market and now have a vested interest in gold doing well. Logically, a lot of the smart money is following them.
Take #2 - The dollar is becoming unreliable.
Take #3 - Paper instruments are becoming unreliable.
Take #4 - Western governments are devaluing their respective currencies by creating new fiat money at an unprecedented rate.
Take #5 - Certain governments, organizations and individuals want to cover their asse(t)s and protect their wealth in an uncertain and volitile economic climate.
Take #6 - America which is (for now at least) the center of attention, has low-rent version of Jimmy Carter as her president, with a collectivist, statist legislature egging him on. Few investments look any good with such disoriented freaks on the loose.
Take #7 - Impending inflation.
My apologies for butting into your conversation.
that nailed it. nice assessment
Thanks. I've been out all evening.