It should fall to ~ 1050..600$ first before it can - and probably will - start a real rally to the sky.
My pov about current gold rise:
Central banks and some big players bought gold due to swiss event and possible GREXIT.
Ie. russia did for sure.
The masses haven't changed their view of gold (yet). But some traders will do, running into the trap.
I expect the financial system to enter its crisis on equities this spring or summer.
Right now, the new ECB is
a) not yet started,
b) causing equities to rise some more weeks/months,
c) forces themself (all big central banks and their "players") to keep gold down.
A short-time fall of gold , followed by shown rise would match this view perfectly. Even masses, not invested in markets right now, will enter the gold market when it's time (or even a bit late for it).
However, gold should rise in Q4 2015 - not now.