There are a couple seasonal and technical factors driving gold right now. October is one of the high seasons for gold consumption. The third week of every month has heavy short covering on Futures Contracts. This month we have seen the seasonal buying and short covering drive the prices past the 20, 50 and 100 day moving averages, this stimulates more buying. Starting the 23rd of October traders have seen December Gold Contracts move upwards 12 of the last 15 years.