We have in the West rumors of Gold market and Silver market manipulation by most likely the Central banks that want to depress the price. And on the other hand the Asian sovereign funds, central banks, individuals are buying Gold.
And so you have to ask yourself what exactly is the motivation of Western central banks to depress gold prices. Because their interest would be to sell Gold at high prices at possible to the Asians but that is not the case.
But I think in general we have had over the last 10 - 20 years specially following the Asian crisis of 1997 - 1998 a huge increase in wealth in Asia, in Central Bank reserves, in Sovereign Funds, in Private Wealth, and if you have a billion dollars what is it for you to put $10m, $20m, $30m, $50m in Gold. So the increase in demand for Gold from Asia comes from a population that has become increasingly affluent.