Gold hits new price records: should investors be afraid of collapse?

As it was informed by "Market Leader (US)"

Gold hits new price records: should investors be afraid of collapse?

A couple of days ago gold hit another price record, exceeding the level of $1600/oz. The psychological barrier is overcome. What will happen to gold prices in the short run? If they keep growing what are the targets? Or maybe the prices have already reached the top and are about either to decline slowly or to collapse?