Yesterday could have been a good time to buy, but when was never entirely certain.  The legislation will likely be bearish for gold, and a purchase sometime after it was passed, would be a good time to pull the trigger (knowing that were it not passed, GLD would likely uptrend somewhat markedly).

The legislation didn't pass.  If the congress somehow passes new legislation this week, GLD will pull back some.

Today gold should continue to drift slowly, and erratically, higher.  However, if the dow rises substantially, which I doubt but which futures seem to indicate, we'll see a temporary but notable downward pressure on the price of gold. 

GLD should rise given the current uncertainty and the Fed's loose monetary policy.

Regardless of what happens today with some confidence, this site's forecast is for gold to end the week up, in the $940-$970 range.

Gold is cheaper now than it has been in a while.  I think it's a screaming buy in the $700s.  Forecasters are already indicating with some confidence that the Fed will ease interest rates again (which already seem like negative real interest rates, when inflation is rolled in), flooding the market with an even greater supply of dollars.  Dollars look like they will continue to plunge toward worthlessness, and the only way to hedge against that is gold. 

The main reason the dollar has been stronger, temporarily, is  careful coordination with the ECB, which is not allowed to lower interest rates to boost its economy.  They have a single mandate (unlike the dual mandate of the Fed) and are allowed only to stem inflation (ie raise rates) and turn to boosting the dollar (buying US Treasuries) in order to weaken the Euro and stimulate exports.  That can only go on so long.

In the short term, these actions have made gold and oil "look" cheaper, as they are assets priced in this artificially stronger dollar.  The fundamentals of the US economy have only weakened, and there have been no positive structural changes in the US to support a stronger dollar.