Please read the article on Yahoo finance. AND MAKE YOUR OWN JUDGEMENT . I believe gold is a safe heaven especially in times of currency uncertainty and financial crisis. What currency do you trust ? I trust US currency. But its value is going down. Some people trust Japanese Yen. But I do not trust Yen, because it is said Japan has more debt the USA. So In times like this, it is good to have some gold as a kind of reserve currency. I guess that is the reason everybody buying gold. Gold price has along way to go up, up and up, Simply because too much debt everywhere in the world.
warning: This is personal opinion, which you must not rely on. You must consult own adviser before buy or sell.