The price of a certain item will not jump dramatically simply because people believe that it should worth a higher price.
It will jump only when people see it from an entirely new angle. Let say a certain company, after acquisition or re-organization, or having a new way of business, its true value should then be re-evaluated, and in that case, a huge price jump would then be expected.
Gold had lost its function as a form of reserve in the last twenty years so its price remained more or less constant. But recently with the economic down turn or better say re-shuffling, the function of USD was now in doubt and gold came out again so that it might regain its old position, by then it's value is being re-evaluated again!
Of course, such a re-evaluation process is hard to predict, and sometimes it will overshoot but then adjustments will follow. I expect the price of gold should keep moving in a generally upward trend for a number of years to come.
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