Gold Bustle in a hedgerow

Is there any reason to buy gold other than the fact that its price is soaring? Gold bugs argue that the precious metal protects them against the risk that inflation will soar out of control. They are correct in pointing out a link between the price of gold and consumer prices. At around $500 an ounce, however, gold no longer offers good value as an inflation hedge. Investors increasingly feel the need to protect themselves against inflation. US consumer prices will be up by 5% before the year i...