"If you think gold has jumped about 10 percent in a couple of days to $1,638 an ounce, the official price quoted on Wall Street, think again.The real price? Nearer $1,800 -- if you can get it."more on paper gold vs. physical price discrepancy:http://www.gata.org/node/19999
Gold might be in for a short term slowing of the uptrend while all the news of the economy returning to 'normal' and a successful virus vaccine being developed. Chart supports this thought as True Strength indicator is rolling over as is MACD and trend lines are suggesting a little weakness.
I too think gold has a little correction to face, mostly driven by algos and big banks trying to save face for the dollar and the shenanigans wrt monetary policy. The chart shows two sigma bands around gold price for 2 years and two horizontal support lines that are not particularly strong as volatility has been high. I do not think the price will drop below the lower band and if it should, it will probably be short lived as it was last March. From the chart, I do not envision gold going below $1575.