The US, UK and European central banks despise gold and try to keep the gold price low. They try to suppress it. JP Morgan is Federal Reserve's #1 conduit-agent for doing this. This is what many people say. The FR will not trade directly to suppress the gold price, too politically charged.
Our own Federal Reserve hates gold because when gold looks good the US Dollar comparatively looks bad. The FR wants a great looking dollar and a low gold and silver price. This is the war between a hyper-fiat currency (US Dollar) and gold+silver that has been going on for a few decades
The US Dollar has been a fiat currency since 1930 but there are degrees of being a fiat currency and the boldness it is foisted upon the sheeple as real money and what money should be. It is at its worst under Obama and getting worse all the time. Fake phony hyper-fiat currency for fake socialist regimes in Washington DC that are in dire need of "free money" to fund their socialist schemes and rackets. The Federal Reserve is only too happy to print (manufacture) this money for Obama/etc by buying US Gov't debt with money they conjure up out of thin air. The Federal Reserve Bank invents money to buy US Treasury debt and this is how US Dollars are manufactured whether they be paper currency or bank deposits existing on hard drives
George Soros made headlines last week when he suddenly sold off all of his Gold investments. I’d be a Billionaire too if I had the US government policy at my personal disposal.