Two months ago, 3/19, I suggested GLD would stay about where it was for two months and then resume its upward trend. On May 20th, it checked in at about $89 and today it's about $89, so the sideways part has held true. (Of course, its mostly languished below $89 in the interim, but that's less relevant to where it's going.)
Agora's 5 Minute Forecast pointed out that the Baltic Dry Index (BDI) today made a new record high and, as a gauge of shipping goods such as grains, ore, and coal, it may be a leading indicator for gold and commodities as evidenced by the charts above. If true, we may be returning to the bull gold market I was anticipating in May.