You are correct the current environment is bullish for gold. BUT, gold and silver are underowned assets.
The policy is aimed at main street and wall street-neither of which own gold. Wall street will pour into equities to get higher returns as a result of the low interest policy and main street will borrow money at low interest rates to buy houses and other goods and they will buy stuff before it rises in price.
Silver and gold are smart hedges but most people have little or no economic smarts.