Gold marches onwards as the markets march down. There is plenty to be fearful of in the current world as far as investments are concerned.
However, Silver also experienced a massive run up earlier in the year and that did not end well. The issue is the short-term nature of the trades. Gold is popular as it goes up and markets down - the reverse can happen too when the hot money leaves gold for pastures new.
Now sharp minded investors like our own Nick Drew have done very well from Gold thus far, well enough that even a 205 or 30% pull back is not really going to trouble them. Longer -term though there is an unsustainable trend, with money pouring into low yielding Gilts and Treasuries and of course into Gold.
None of these investments is generating a yield or return above zero, in fact treasuries and gilts are loser as they sit below inflation in terms of returns. For now, with market risk seen as a big threat, that is OK - but long-term this must unwind as even the rich get poorer. Also, by denying money to productive investments the world will be denuded of growth and opportunities - it is in no ones interest to have this huge flight to safety continue ad infinitum. Stopping it is another thing though....