My take there is a perception of problems and there for gold has gone up.
When those perceptions recede there is a major down side to gold.
Currently the major currencies are appreciating internal to themselves. The USD is in decline short term with the US paper trade. The other major currencies, minus the RMB, are appreciating. Gold is hanging on in USD. This wont last for gold. The selling of US paper will begin to slow by the end of March as Japan will be seeing several of its institutions having divested their US paper.