no; gold had lost its shine and has broken its 12 year record of raise. lost year it registered its first loss and this year it has to loose heavily as already some of the agencies have given lowered projection for gold price. only gold bulls are trying to keep the price high with tricky statements; probably to offload and book profit with gullible got to compensate for the losses.at least this man you referred has spoken a correct view, at least once.
I fully agree with Mr.Chakrabarthy that the Investment in Gold is purely spectulative or short term investment and nothing to do with Inflation. Infact the world is not seeing any inflation, except few countries like India. If the gold prices and hedge of inflation, why it touched the roof when the whole world is in recession. It is more of holding cash with a possibility of some appreciation in the long term. Fortunately, last 7 years, it gave tremendous appreciation as an investment. The upward cycle probably is over, and the world is moving towards lower infaltion and growth. The uncertainities are being fixed brick by brick and more orderly financial markets are order of the day. The speculative investment can be seen in derivatives in a big way but the ETF investments cannot be said as speculative. These new intruments have created awareness in people who have never seen the gold as investment opportunity.