John Embry and  Dennis Gartman answered my questions in their 1 hour Gold Debate.

1.Who are the buyers of gold?
Central banks of small countries have been gold buyers.
 
2.Why are they buying gold?
They realised that dollar is weaking. Euro is weakening as well, so they started buying last thing that IMF enables: gold.

3.Why is gold cheap?
Historically, 1 ounce of gold was 15 barrels of oil.Now its around 9 barrels of oil.It will reverse to the mean.

4.What will push price of the gold higher?
 There are huge short positions (short squeeze) and small reserves of gold.

5.Why banks have small reserves of gold?
Its the consequence of banks huge interventions.The banks were doing the same in 70s.

6.What is other great thing to own apart from gold?
Wheat.

7.How they recommend to play gold?
Bullion,gold ETF,small gold stocks

8.What price of gold do you expect in following years?
5000$/ounce

9.Are the record prices of oil sustainable? (T.Boone Pickens answers)
There are 85 million barrels of oil available to the world economy every day.The demand for the fourth quarter is 88 million barrels a day.We have never been here before.

Finally, my basic questions were answered. So, it's time to do my homework and answer other questions I have.

10.What is the relationship between prices of silver,gold,platinum ?
11.What are the statistics,figures and facts ?
12.How does the industry works, looks like and who are the main players?

Any answers stokblogers ? Thanks:)