Not at all, in fact the bull has a lot longer to go. I am way bullish, and I think that I will even be surprised in how high it goes. A few things to consider:

Gold is very volatile, so 20% or more corrections are normal. One reason for this is that the futures market (which more or less determines the price of gold), is not a heavy traded market; a major player can come in and buy (or sell) and a significant price movement will take place.

Gold is very emotional; not only do you have gold bugs, but you have fiat money holders wanting to place their paper money in hard currency. Nothing strikes human emotions like cash.

Check out the commitment of traders reports; this is a GREAT emotional indicator.