I posted my thoughts once and here is a wright up about gold
http://seekingalpha.com/article/220307-tips-and-gold-as-inflation-hedges-risk-and-rewards?source=emailtrying out the link to make sure it works, it is to a article on seeking alpha web site which is popular with investing people lots of good info there.
the above info is regarding what is going on with US finances. while a lot of good info here about gold, the simple facts are in the above link on where gold is at in regards to all time and near term costs.
one thing is clear if you think we are in a deflationary period (think what a house costs today vs 3 or 4 years ago "deflationary") Then gold is going to drop from here much much lower. Now if you think in a year it will take 22.50 to buy a gallon of gas or milk then by all means buy gold and hope that Inflation goes wild.
I had a bad week in the markets on my long term holds but still to the good 30% for last 18 months...
mark
