In early December 2023, gold hit a record price of $2,147 an ounce. Investors are paying attention. With inflation running hot for three years in a row, is now the time to put gold in your portfolio?
Over the years, I have been a leading disparager. Consider just a few of the things I have written about gold in Kiplinger and elsewhere: "I am not a fan of gold" (1999). "Stay away from gold. It is a barbaric relic" (2002). "Let me put my prejudices on the table: I loathe gold" (2014). But is this time different? Let's begin with gold's biggest liability: With the exception of a single decade, it has not been a good long-term investment.
