1) It is a heavily manipulated market. 2) It has an inverse relationship with the dollar.
I think the dollar is due for a rebound (already started actually) which will hold gold prices in check.....but I expect a lot of choppiness in the dollar and gold in the short term. The dollar will prevail in the intermediate to longer term.......in my opinion, and that and $4.00 you can get a coffee at Starbucks.