The price of gold has soared as every other market has behaved more erratically. Apparently the thinking is that gold is a safer investment in bad times, even good for a spectacularly post-crash, or even post-apocalyptic world.
I still don't understand the allure of gold. It has value in dentistry, say, and jewelry, but that would probably account for about .1% of the demand for it. Of all the magnets for capital, it seems to me one of the most useless.
If you really do think that markets are going to collapse and society is breaking down and want a hedge against this, don't buy gold. Buy canned goods, bottled water, and toilet paper.