This is yet another investor that doesn't understand the historical role of gold as a store of wealth, trying to explain why he hasn't participated in the last

This is yet another investor that doesn't understand the historical role of gold as a store of wealth, trying to explain why he hasn't participated in the last 10 years of price appreciation (or currency depreciation). The simple fact of the matter is that global currencies are being printed at an alarming rate, and that money printing has a direct and powerful effect on the price of gold. When you ask "are we in a gold bubble?" you should be asking what the fundamental reasons are that gold has increased in value so much over the last 10 years. If gold has increased in value because our currency is worth less, then what leads you to believe that it will suddenly lose value? Is our currency suddenly going to increase in value significantly? Does the government or federal reserve have any plan to stop printing money? Would the government want to take money out of circulation when the economic recovery is shaky at best? The price of gold reacts very strongly to money printing. For this reason, every investor should have some gold in their portfolio. Even if you only have 5, 10, or 20%, because gold reacts so strongly to inflationary pressures, it can carry your portfolio in times of inflation or financial crisis.