- Gold ETF sales have slowed. See our chart that shows how gold ETF redemptions ceased to be the main driver of falling prices;
- The COMEX warehouse is "running out of available physical gold," which is causing more traders to demand delivery of additional gold, says Lawrie;
- China may continue to build its gold reserves. Lawrie speculates that China could have its first gold conference backed by "a slew of government organisations;"
- India could ease its gold import restrictions. In a recent Investor Alert, we highlighted the commerce ministry's request to ease restrictions, which would relieve jewelers hurt by import curbs;
- Unrest in the Middle East likely could persist.
- There may be a "major hiccup" in US growth. Read US Global's special report, which takes a closer look at how to evaluate unemployment and inflation numbers;
- Newly mined gold supply may be underwhelming.
"I think pessimism has reached a maximum, particularly in the gold space. Historically, when pessimistic consensus is this strong and gold stocks are hated this much, these are turning points."