A few points need to be made:

• All markets are manipulated to varying extents (and by various techniques) by the "elite" trying to exploit the "little people". That said, once sellers have no more gold bullion to sell, they can no longer flood the market to artificially depress the spot price as they have in the past.
• Gold (and silver) are considered to be popular hedges against geopolitical and economic uncertainty and have enjoyed a recent resurgence given the turbulence in the world today.
• Without getting into the weeds of technical analysis, gold prices have broken out to a new all-time high, signaling the end of a 13-year correction and consolidation phase. All moving averages are indicating that we are going higher from here.
• IMHO, all investment portfolios should hold some gold (at least 10%). For those that are more adventurous, have a higher risk tolerance or those that have significant experience, training and knowledge of investment principles, may be a higher percentage holding may be appropriate/tolerable.

Full disclosure:

• I am very over-weighted in gold now (and have been for 2 years) because of the weakness that I see in equities, bonds and other investment alternatives.
• I never have bought into a broad diversification strategy -- I have always picked a few stocks that fulfilled my buy criteria and ditched them when my target price was achieved or when they failed to fall into my hold criteria. I do not see much of anything that excites me in the equities market currently.
• The foregoing is MY investment paradigm based on 50 years worth of experience and is not intended as investment advice.