The Institutional Risk Analyst

We as people get used to permanence, so it's hard as people to deal with and assimilate sudden change. We like to have stability, so when you suddenly realize that you gotta go live somewhere else, that's a big deal. That's something Americans have a great deal of trouble with when we start talking to them about gold. It threatens all of their assumptions. So they get very uncomfortable.

Central banks have changed their posture from net sellers of gold to net buyers. Central banks are not price sensitive regarding gold, they are sensitive to volume and tonnage of available gold.