And before you get too excited, this "news" from the World Gold Council. A consortium of gold mining corporations. Clearly it's a pump article "have you bought gold yet? everyone else is! why not you!?!?"
It's not like we've suddenly found new and exciting uses for gold though. The reason the price has gone up is because the demand for it has gone up, and the reason why demand has gone up is because people want an alternative to U.S bonds. A bunch of pump articles wouldn't be enough to lead to a 3x price increase.
That makes no sense since the amount held in US bonds is not that different.
The only change is that the gold that people held has gone up in value.
It's not different than holding Google and Apple stock, and when Apple stock goes up people say "oh, it's because people don't want Google stock". That's not true at all.
And why is it worth 3x?
But S&P500 is not?
Are you saying that the price of gold just spontaneously went up?
From over hear it seems like the age of Pax Americana is over, and gold at ~$4,600 is one of the results.
Ofc those with an incentive of higher priced gold will tell to buy gold. Only time will tell if they were right.