I have to admit that I am very surprised at how strongly gold has been acting these past several weeks. Gold is up over $16 as I'm writing this at 3 am. It's been making new record highs for a month now, and is currently well over $1200.
This reminds me of my experiences with silver way back in 2004. (Yes, I've been doing this for over five years now.) Silver usually acts just like gold, but much more viciously. Just before the crash, it went all the way to $8.25 an ounce (it's over $19 nowadays, by the way) from around $6 for a gain of almost 40%. Then it crashed, giving back the majority of its gains in just a week or two.
I'm hoping gold won't crash the same way silver does, but all good things come to an end, and a correction of 10% is healthy for a bull market. Sooner or later, the price of gold will suddenly drop $50, taking everyone by surprise, including me. In a bull market, the bull wants to shake you off, but as long as you hold on, everything will be okay.