Evidence of more desperation by the BIS on April 4th crushing down the price of Gold by about $10 which probably cost them in the many $millions (of naked paper contracts) to fulfill.

BIS desperation in action

The good news:

At such a ridiculously low price, some buyers (Russia?, China?, other CBs?) found themselves a bargain purchase price and brought it right back up!

How long this dance will persist remains to be seen; perhaps when they ask for delivery and are met with a cash (rather than bullion) settlement. Who the fuck knows...