The Chinese encouraged their people to buy gold and they are not likely to let the price collapse. They have it in their power to drive the price up or down. However, they are accumulating in quantity and do not want the price too high.
The states sit on 8000 tons of the barbarous relic and do not sell even when prices reached $1900. All this during an economic downturn when cash is needed. Central banks are accumulating now in quantity. The euro is threatened, debt is out of control world wide, and all western countries are printing. The dollar index is a joke, and all countries not on the index are experiencing real inflation.
Despite all of this, the price of gold goes down? ----I guess you really can fool most of the people a lot of the time.
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