the big problem here with gold is that there is nothing to ensure that gold cannot fall back to $100 an ounce. gold does not pay dividends, so there's no support there. gold is not a corporation with money in the bank, customers and assets, so there's nothing there. gold is not a used currency - every country has its own currency, so there is no support from that. gold is nothing more than a belief system (like other currencies) and there is really nothing tethering that belief system to the everyday. this decline could go on for years.
central banks print money and buy gold and then to cover up the free ride they sell their ill gotten gains on the public market. So a real commodity's value is defined by phoney descriptive paper. Welcome to the price one must pay for allowing a banker (if any one could stop them anyway) and government the power of fiat currency. If we were on the gold standard this could not happen. It would be real.