up, because these are the only two conditions for gold to go down, and they will not be met, neither one nor the other, before at least 2014-2015.
so that gives three years, at least, where we think the trend is clear, and central bankers are just obliged, like everybody else, they are committed to this reality. one of their jobs is to be sure that they are able to preserve the value of the reserves of their country. and therefore, as we have seen in the past two years, most central banks in the world are now becoming buyers of gold when they have been selling it in the past. 