This article from Bloomberg contains some interesting comments. Here are some samples

David Fuller's view Needless to say there is plenty of disagreement in the gold market right now. That is typical of markets in lengthy trading ranges, which neither confirm nor reconfirm either bullish or bearish views while the range persists.

Personally, I think the views of Singer and Soros are more logical than the bearish arguments that we have heard for gold in recent months. However, that is my own subjective comment. Moreover, the human element in any market ensures that plenty of seemingly illogical periods occur, particularly over the short to medium term.

Nevertheless, if gold's secular uptrend is still intact (monthly, weekly & daily), I think we should see a decisive move to the upside during the first half of 2013. That would be consistent with the overall upward trend. Conversely, if gold has not moved sharply higher before the end of June, I will conclude that we have clear technical evidence that bullion's consistency characteristics for the last twelve years are no longer intact.