I myself are sitting on sidelines. I sold $12.06 the other morning premarket. Just waiting to see some direction and have some of this Fed stuff (Yellen) out of the way for a bit. Minors are having a bit of a struggle. GLD up and I am just waiting to jump back in.
I hear ya. Check out Adam Hamilton at Gold Eagle and see what he has to say about gold's history through rising interest rate cycles. Then check out gold's return vs. the S&P's return for the last two months. Get back in only when you feel comfortable doing so and may the very real and true God bless you.