Seems to me that the Chinese have more than the usual interest in seeing gold moving up or at least not sagging into the depths. As posted the other day, someone made the astute observation that China's save-face culture will keep a floor under the price, especially since the government recommended the citizenry purchase the stuff.

I've read recently that gold is now available in China in many sizes and shapes and in many different places. No way the government would lose face after making such a recommendation.

And the news that China will take the gold off the IMF's hand for a reasonable price has probably dampened the IMF's possible attempt to create caution about buying in the gold markets with the fear of that overhang. Not really there, if the Chinese will take it all. To me, that was a very visible Chinese trump card even though it was probably not needed. And I imagine they have a few more in their hand depending on the IMF's next move.