I have no disagreement with your post on gold in particular. Nor to comment on them. I just wanted to add that my life long experience of gold is that it does nothing for years and years and then makes a dramatic move up. (stair step?)
Traded between $100-200 for in the 1970's and then made an 8 fold move to 800 in 1979.
Traded between $250-500 for most of the next 20 years and then made a 7 fold move into 2011.
Interestingly those moves happened for different fundamental reasons. [That is, if there is any rhyme or reason to gold's moves.] The move in the 1979 was the rampant inflation we had. The move in the 2000's was due to low interest rates and low (ZIRP) interest rate policy. Why not own gold if your money doesn't make anything in the bank?
It's been 8 years since the last big move. Could be time for another big move? Or, maybe we will see nothing happen in gold for the next 7-10 years?
To me, I believe this time is different for oil and gold and a real move higher will start this year.