I don't think there's any great need to own Gold in dollar terms. If you're fearful about inflation, you're wrong. Grain prices are down. Iron ore prices are down. Crude oil prices are down. Rubber prices are down. Owning Gold in non US Dollar terms however owning in Yen, Euro terms have been okay. You are down about 1 percent over the course of last two or three years. Where as if you owned Gold in dollar terms you're down like 35 percent
As I've said, I just went to North Carolina state, I didn't go to Harvard or Yale but even we know losing 1 percent is somewhat better than 35.
I wish I had been short of Gold in Dollar terms. It would have been a brilliant trade. But I'm not that smart. I have wanted to own a bit of gold, just predicated in a different currency, so I'll leave it at that. I can understand why somebody might want to be short of gold. I wouldn't do it, not down here. Being short of Gold at at $1600, $1500, $1400, it probably wasn't a bad idea but here at $1200 I'll let someone else do it, I wont.