Why is gold prices going up, and why are they going to continue going up?

With all the money the U.S. government has spent people are assuming the dollar will get inflated and gold goes up with inflation. For some silly reason people also see it as a safe haven when stocks are sketchy. Gold is a volatile commodity and a lot of mislead investors are going to get creamed when it swings back. When it seems like everyone is long and it can't go down it's usually a huge sell.

Technology drives the economy and improves human living standard. As a result, people are accumulating wealth. Gold serves as a form of wealth in human society.

It is anticipated that the pace of technology advancement will not slown down in near future. The flourishing economy will drive the demand for natural resources which is limited. Demand will drive the price of a product in market. The price of gold will follow this trend.

Speculation.

Speculative bubble.