I just asked my gold broker the same question! He said it was mostly large financial institutions are making bulk purchases. When gold takes a plunge in price, it's usually because a country like China dumps several metric tons onto the market at once. I'd like to know, if at those times, those particular countries (like China) were offered financial incentives by the global banks to keep the price of gold artificially low?
All the games with gold, are what kept me out of owning it, give me a cheap lot, at least I can camp on it and if I am
lucky, maybe something will happen to make it worth more.
I think that gold and diamonds have too much control by the big boys.
It has been about 25 years, since using the price of gold would tell you how the stock price was going.
Good luck with your gold......of course, it is beautiful.