Bullish on Gold, but Getting Nervous

On Monday, gold rallied above the top in 2011 and made new, all-time highs. I’ve been more or less bullish on gold for several years, but it hasn’t always been particularly easy, because gold’s progress could usually best be described as “tortured.” But, in the last two weeks, gold has gone vertical. Along with this, I recently noticed that gold is becoming very popular with the advisory crowd — I haven’t noticed anybody who thinks you shouldn’t have gold in your portfolio. That’s new.