From a trading perspective, the current Gold contract is the Feb 2011 (GCG11) which expires on Feb.24 and then the April contract is the one traded (GCJ11)

You can look at all the details on the futures here: http://www.barchart.com/commodityfutures/Gold_Futures/GCG1

Usually, when a contract rolls over to another expiry, there will be a dump on the current contract as people do not want to take delivery and they will buy the front month. That being said, April is selling off as well.

I think we will test the 200DMA on the Feb and bounce: