Gold is an incredible commodity. it does not change in value, but rather, reflects the value of other things. That is to say, as the dollar loses its value you need more of them to buy the same amount of gold, it's the same principle as land but the difference is gold is portable and gold can be hidden, smuggled, and used on the black market, and gold can be used for jewelry as well as industrial purposes, therefore it makes sense to own gold and land, not just one or the other.
The value of gold has not peaked until people are talking about it in the streets, and they must have it, as they see it as the only protection against debasement. the world, and the people in it, will no longer be told by any government that they cannot hold gold as insurance against poor economic management. There will be blood in the streets if any government tries to take possession of the people's gold.