Also China and Russia both want to replace the US Dollar as the worlds reserve currency with a basket of currencies and gold as Special Drawing Rights. This talk could have an affect on USD/Gold.
Also look at the 1 year chart of GLD, it is unchanged!
GLD 6 Month Chart
GLD 2 Year Chart
UUP 6 Month Chart
Gold to USD (Stockcharts.com)
I also found an interesting video on Bloomberg featuring Bill Murphy from the Gold Anti-Trust Action Committee. He believes Central Banks are fixing the price of gold. He thinks gold should be much higher relative to inflation.
Recent Gold Forecasts:
Gold's Performance Lackluster; G20 Should Provide a Boost
UPDATE 1-Barclays lifts 2009 gold price view to $940/oz
Goldman Sachs lowers gold forecast to $930/oz
Davies Says Javelin Is Buying Gold on `Dips' Below $900 (Vid)
Gold Going as High as $1,080: BlackRock's Hambro (CNBC)