Gold is up almost $50 in the last week. This has been accompanied by an increase in volatility everywhere. We also have the geopolitical instability that is causing increased volatility and dramatic swings in the market.
In one week in December the Chinese withdrew 57 tons of gold from the Shanghai Gold Exchange. So the Chinese bought more than 2,000 tons of gold, which is a staggering amount for 2014. The Chinese central bank continues quietly accumulating its gold hoard. In the same week it was also announced that Russia bought gold. So not only did this squash the rumors that the Russians were selling gold, instead they were accumulating.
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