Where is gold at?, page-87

It certainly looks like this board needs a Gold 101 lesson
because of yet no one seems to have reasonably answered
the question of:
(a) That the POG seems to be inversely related to the DOW
and
(b) Wise guys say that it is a hedge against inflation.

There seems to be a paradox here because
the Dow goes down when US economic prospects are looking worse (Gold goes up)
&
If the US economy is improving there will be increased inflation. ( Gold should go up)

If there are other issues such as Chinese or Japanese inflation which are likely
contributors to POG movements a few graphs or authoritative recommended reading
suggestions would be appreciated.

There seems to be a rift between the fiat currency theorists (we have never seen so much
currency printing) predictions that gold will skyrocket due to this printing and the behaviour
of the POG over the past 18 months.

Again any ideas which explains the current situation?
mm