The movement of capital from emerging markets to the US equity markets and into more useful commodities like crude oil and natural gas could put dampen the spectacular rally in bullion metal prices. Any affirmative action by the central banks to tame inflation would also affect the price of bullion that is seen as a hedge against inflation.
China is expressing its concern about a developing bubble in gold markets. It could be to divert global attention as China continues to accumulate gold with discrete purchase. Chinese citizens are being encouraged to accumulate gold as import duties on the precious metal have been reduced. Such statements at regular intervals might be needed to retain the sellers in the gold market. A continuous rally in the price of gold or any other commodity for that matter generally dries up sellers and it becomes price rise becomes perpetual.