Is that correct?For example Rio announced only this week their...

Is that correct?

For example Rio announced only this week their gold find in WA!

The hypothesis only plays out if there is more and more demand for gold.  One of the desirable properties of gold is it is virtually indestructible and lends itself to recycling over and over again.

I tend to think buying is related to supply -   "we'll buy whatever is available within a price range".  

I'm not sure the usual rules of scarcity and price apply to gold.

What is the reasoning behind a $1400 price?