Gold's rise over the past few years has been driven by a number of factors. Aside from the unprecedented monetary easing and skepticism over the global financial system in recent years, Morgan Stanley notes that 1) a persistent increase in investment demand, 2) acceleration in producer de-hedging, 3) a decline in net official sector sales, and 4) a persistent failure on the part of the mining companies to respond to the incentive of a steadily rising price and materially lift production; all also impacted gold's premium.  In 2012, gold’s investment premium was driven by investors ... Read More