china is back next week from its holiday. QE is a negative at present for gold , as this is sucking all the surplus us $ even where local currencies have  substituted the us$. Higher oil prices also ensure countries are holding greater amounts of us$, but with the 10year  t bill having touched 2.05% the shine will start to come off treasuries bonds resulting in a renewed interest in gold, and a increase in us$ looking for a new home would just increase its demand.