There are indications that the spike up in gold on Wednesday was due to options. In any case, the market has been wildly volatile within a $50 range this week — $1210-1260. Even today, gold spanned most of that range.
Gold is back to unchanged on the day, slowly sliding since a jump on non-farm payrolls. The broader downtrend remains intact with weekly prices set to close at the lowest since early July.
Gold weekly
