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Defensive investment against inflation started at $750 ounce
Is $750 price its real bottom.
Did the market hold gold in anticipation of a stimulus.
Did the market have enough time to react to the crash which keep gold higher.
What is the influence of the Chinese purchasing gold.
I tend to think the market didn't have enough time to react to the crash therefore the gold price could have gone a lot lower than $750. Some investors including banks would have know about the stimulus before most of market and therefore the gold price was kept higher. Even though China does use a lot of gold, the gold price would be higher now if China had sufficient influence.
