You miss the point about why gold is being bought up, its not to buy a lifetime supply of tooth filling, but as a safe haven. When the economies are tumbling around you, historically the first (or maybe second) place people look to park their money is in gold. There have been alot of gold bears stating that gold has lost its lustre, but right now it appears history is beginning to repeat itself.
I think there are many factors which have induced a gold price increase, obviously the threat of war is one of them, but even without war my feeling is that gold would be rising anyway, especially since the recent law suit against the likes of JP Morgan was announced. The shackles appear to have been removed on gold.
