From one of the very best observers/commentators I know.

Extract:

"In simpler terms, gold gets hurt by the boom and helped by the bust, so anything that perpetuates the boom is bearish for gold and anything that helps bring on the bust that inevitably follows an inflation-fueled boom is bullish for gold."

http://www.321gold.com/editorials/saville/saville121614.html

POG has had wild swings today, from up strongly to dipping into the red. Green by 3+ dollars now.