Some years ago, hedgefunds were not that active, now suddenly they are in a big way into Gold.
Other avenues don't produce those profits they want and need to earn that 20% of profits.
So, they are bulking up and are packed like sardines; some observers say Gold is overbought; that may look like it but no one is budging.
$500 for Gold is not that much anyway, they are betting it will move up and in the meantime they are quite content just to sit there. Where else can they go?