Baba, gold will be bought on all smallish dips even in options expiry week because the circismstances have changed in golds favour. I would place the odds of a Leap day massacre event at about 20-25% at best and 75-80% in favour of dips being bought, even small dips as the buyers buy a little and then buy more if it pulls back more.

I suspect it will be a long time before gold is not bought on dips and I also expect people will have a hard time grasping this shift given the length and nature of the last down turn cycle. This coming upturn cycle will have lots of smallish dips along the way but will last at least as long as the last downturn cycle and maybe longer if historical bullish patterns hold.