Gold . . . too late?

So has the train left the station or is there time to get on?  We ponder this question for gold as an investment.  The barbarous relic pays no dividend, generates no earnings, and, thus, has no intrinsic value as Benjamin Graham and Warren Buffett would define it.  It has, however, value in its scarcity.  I’d guess it’s one asset that a majority of investors and speculators agree has some–if not significant–upside.

That agreement, along advertisements like the one below, causes us to question whether gold is too popular right now.  (Of course, there were those who said that the introduction of the first gold-bullion exchange-traded fund, the GLD, which is now the second largest ETF behind the big S & P 500 SPDR, SPY.)

I came across a blog posting (here and shown below) that compared the percentage of financial assets that gold represented in 1982 compared to now.  At 17% then and 4% now, it sure looks like gold has some upside


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