Markets, being made up of market participants who are herd animals, tend to disappoint the greatest number of those same participants. This is because the herd is in competition with each other at the same time that they depend on each other for guidance and support.
It is for this reason that markets tend to bottom when there is no hope for a rally and top when all are feeling good about the prospects of continued rise.
I have not heard much good about gold lately. (Except for the gold bugs, but they never give up!)
But I am quite sure that the US Fed is intent on a devaluation of the U.S. Dollar. No one will say it of course as that would greatly excite the partisan tea drinkers among us. But it is way past time that the U.S. economy stopped enjoying the benefits of being the sole reserve currency in the world. And the world is looking for alternatives at the same time that we are on a quest to have perpetual low interest rates. We are looking for some inflation WITH low interest rates. We may get the inflation and our interest rates may lag inflation. It is my observation that interest rates LAG the rate of inflation right up until someone or some force decides they have had enough of inflation and then they briefly surge ahead. (Volcker was the last such force. The "bond vigilantes have been bought off by the reserve currency status/Chinese)
So now may prove to be a good long term chance to buy the precious metals.