Why Aren't Gold Prices Really Rallying?

Gold prices in India are up by 5% during the past 12 months. Prices have actually dropped by nearly 10%. How is such a thing even possible? Well gold is a bit like oil. Globally people buy and sell gold using the dollar. And this means the value of gold is inextricably linked to the value of the US dollar. The only thing going for gold perhaps is that the biggest holders of gold are in giving up.