Appartenly China has also made a major purchase. Some have speculated anywhere between 500-1000 tonnes.

I got a good laugh reading Yahoo's homepage. The lead article was "Gold headed for a violent downturn." The author predicted a gold price as low as $700. Just who the hell are they kidding? There's a better chance of gold going to $7000 US, rather than $700.

As soon as the US rachets up the printing presses, we'll see gold hit a new high in short order. RHR could very well be a multi-bagger in that scenario.