Saudi gold reserves double

Much like the Chinese surreptitiously added to their gold reserves, the Saudis announced they more than doubled their gold reserves. Central bankers are now net buyers of gold, not net sellers as they had been for decades. Net selling places selling pressure on gold, driving prices downward. The reverse is also true: central bank net buying adds buying pressure, driving prices upward. That's also why central banks don't officially announce buying programs in a timely manner because they desire to accumulate gold at lower prices.

http://www.ft.com/cms/s/0/e97c15bc-7ca1-11df-8b74-00144feabdc0.html

The cat is out of the bag as more central banks will announce they have added gold to their reserves, which can only be bullish for gold prices.