I would really be surprised if FED lowers rates. They want USD to go down but IMO they will keep pressure on Chinese for Yuan to rise. As USD falls due to China and possibly as Japan stops propping the buck, the inflation will be more apparent and the interest rates will move higher. US is in a bad shape and rates moving higher won't affect the gold negatively thus gold should continue steadily higher.
Markets are moving higher IMO because of the paper being printed and being moved into equities to prop up the markets so there is no collapse at present - but how long can they keep this up is anyone's guess.