Correction was short lived as Basel3 looms..I guess the bullion banks have to cover their short positions and so any orchestrated pushdown does not last long.
Alasdair has penned a really decent article on China and gold. The dollar is toast as a reserve currency. The Chinese can topple it anytime they want. Note yesterdays announcement by the Russian Wealth Fund that they are removing all dollars from their fund and deploying in Euro Yuan and Gold.
The article is longish but very much worth the read:
https://www.goldmoney.com/research/goldmoney-insights/the-geopolitics-of-gold