I’ve said it before, and I’ll say it again. I am not a fan of gold (XAUUSD). I get it, it has some vicious rallies. But overall, I’d rather be a long-short type with stocks and bonds. I do allocate to gold — but lightly. And more out of a sense that it fits OK in a permanent portfolio, as there are occasions in which it is practically the only thing that works.
I remember speaking to a group the week I opened my own investment advisory firm. It was early 2012, and I was practically accused of blasphemy. Because at the time, gold was on a run, and my usual chart work said it was highly unlikely to continue. Here we are again.
