I surely think that Gold be bullish. The main reason its going bearish is the FED`s money printing which boost Wall streets. Players cut their long on gold and deposits on the hot market in Wall Streets.
But one must be aware that producers will stop looking for golds if the price is below cost??. At the price its now its almost drowning for them. Physical golds are out of stock because its cheap now.
We must also remember that central Banks dont like normal citizen to trust in Gold but instead prefer them to use their fiat money. In meantime Central Banks are filling their vault wit more Gold Bars. Strange ??.
Some commented that Gold is no more glitters to own but Chinese and Indians are rushing for it until India had put taxes etc.. to stop their citizen from mistrusting Indian Rupee.
Gold mines in S.Africa is having higher demand for salary rise. Gold mines in Papua New Gunea have several accidents which hinders prodductions. Cost of petroleum and disel(Energy for gold digging equipments) are rising.
Gold never did lost its status quo until now.