From today's Gartman Letter...... (11-5)
"Regarding gold, what can one say?
It is rising in dollar terms and it is rising in terms of most other currencies. The news this week of India’s purchases shall be a strong impetus to other central banks that find themselves holding a core position of gold that is small when compared to the gold held by the central banks of Europe and the US to ramp up their gold holdings. ."