Investors fretting about the prospects for other asset prices are buying coins and bars, traders said.
"As in October and November, since the beginning of the week we have seen strong investor demand for physical gold," said MKS finance head of trading Afshin Nabavi. "There has been demand for physical kilobars and coins."
Interest in physically backed products such as exchange-traded funds -- which issue securities backed by physical stocks of gold -- has soared.

ETF Growing

The world's largest bullion-backed ETF, New York's SPDR Gold Trust, said its holdings rose to a record 805.96 tonnes on Wednesday. [ID:nSP136429]

On the supply side, the world's fifth largest gold producer, Harmony Gold (HARJ.J) and Australia's biggest bullion miner, Newcrest Mining (NCM.AX), both cut their output forecasts.
Harmony said it now expects production to decline in the second quarter from the first, after its gold grade decreased. [ID:nLM634292]
Newcrest said meanwhile it sees gold output in a range of 1.63-1.7 million ounces in the year to June 30, down from a previous forecast of 1.68-1.78 million.

taken from a longer article - if interested go to www.amprogram.com Jan 23.