While it doesn't look like gold is going anywhere lately, its priced is being pushed down by a rising dollar. Despite a strong dollar, gold has been moving sideways for a year. Global QE is reaching ridiculous levels and rates AREN'T RISING.
Here is a view of the dollar neutral Gold and the relative performance of Gold priced in euros relative to the Euro currency.
Here is a view of the dollar neutral Gold and the relative performance of Gold priced in euros relative to the Euro currency.