Below is an article published in April 2008 on high gold prices with which I couldn't agree more. Of course, the price of gold has risen substantially since April 2008, but the article reiterates the point that the volatility of gold prices remain a constant worry to small gold investors. In sum, this is a great time to sell gold in the form of old jewelry and current gold investments, or it is a good time to purchase stock in mining companies that bring new gold to market. However, as Wharton finance professor Jeremy Siegel stated in the article, "I don't think it [gold] has any place in a long-term portfolio."
Source: http://knowledge.wharton.upenn.edu/article.cfm?articleid=1946
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