Gold is currency. you can loan it to some despaired nations at a good deal of interest rate. These nations can pay back their debts in gold or other major currency; such as USD/EUR/JPY.
Most of the production gets sold as jewlery, much of it to asia, food is a big % of a typical asian's income. Grain prices get high enough that there is nothing left for gold. Combine with less fear about the overall economy could be ugly for gold. Just an idea
When the economy start to improves or when people believe it has, gold prices should start moving down. A lot of the recent upside to gold has been to 'safe haven' buying. A stronger Usd should also bring gold prices down.