Maybe someday I can go into more detail. But to be brief, Interest rates are correlated to Inflation and Quantitative easing is associated with increasing money supply in the banking system. Both, cause the value of gold in dollars to increase. Quantitative easing causes banks to offset their bad non-performing loans to central banks so that the banks can continue to function and have healthy balance sheets. This bad debt is still in the economy and rather than be accounted for by banks it allows banks to continue to extend credit and expand the money supply.
