Gold is currently deflating.
Approximately 50% of gold is bought by China for reserves and by India for private use.
There is a danger Russia will use its gold if RUB is pressured.
Gold tracks inversely with dollar due to inflation/deflation cycle.
Mining companies and silver do not fully follow gold prices but have similar (although faster) dynamics.
The gold has seasonal jumps twice a month due to large amount activity.
Hold position: GLD
Leveraged positions: UGLD/DGLD