When I started at Advisor.ca, gold was trading around $400 an ounce—pretty much the high-water mark for my adult life.

As an eternal pessimist, I could believe that in troubled times, it would rise.  But the predictions I heard of it hitting $2,000 always sounded fanciful. Even $1,000 sounded excessive, and every step up seemed likely to stand as a record for some time to come.

If it were simply an equity sector, like IT, we could chalk it up as "every dog has his day," but the handful of outspoken goldbugs—in Canada, chiefly John Embry and Nick Barisheff—have been consistent in their arguments in favour of gold. The scenarios they laid out have pretty much unfolded as they predicted.

Has your opinion of gold changed?  Is gold the new bubble, or will it become the "new" global currency?

Does it have a role in your clients' portfolios?