A rising gold price acts as a barometer for financial storms ahead. The daily rise and fall reflects buying and selling as with any other commodity. If you believe some of the GATA types then a lengthy conspiracy to suppress the price of gold and silver through illegal naked short selling is finally coming apart at the seams. If this is accurate then a parabolic spike not only could happen but should happen as the shorts are crushed.
If those holding gold don't sell then the price continues to zoom as the shorts must cover. Current paper trading practices at the COMEX would get people thrown in prison in any other endeavor.
However that is all about the price of gold in dollars. If people want to trade pieces of paper in the hopes of acquiring more pieces of paper then they need to make sure they are not the last ones holding the (paper) bag.
In Asia the Chinaman is quietly buying gold. Most Americans would not know a Krugerrand or American Eagle from one of those fancy gold plated dollar coins. Meanwhile gold, silver and copper explode in "price."
The world drowning in dollars and debt yet an ounce of gold remains an ounce of gold regardless of the actions of government...
HG