• Introduction – Gold in 2011
• Money Creating Central Banks May Push Gold to New Nominal Record in 2012
• Central Banks Will Continue To Be Net Buyers of Gold
• China Foreign Exchange Diversification Should Support Demand
• PIIGS Lesson: Iceland Shows How Gold Protects From FX Crises
• Currency Wars and Competitive Currency Devaluations
• Falling Confidence in Paper Assets, Bank Deposits May Prompt Physical Deliveries
• Gold Remains A Historically and Academically Proven Safe Haven
• Conclusion – Gold in 2012