Gold is falling and that is a good thing. Unless the new president pushes us back to a gold standard, gold is likely to settle. I'd like to see that level near 2007-2008 levels, however we have to see how active the market stays, and how much supply is leveraged for derivative trading. Yes, in times of extreme instability gold can hold a value standard, but that does not compute to long term holding of the metal.
My theory is that the extreme scare and flight of capital out of equities into gold in 2008 pushed the price up to an unruly price.