Gold Bubble or Safe Haven?

The flight to safety in Gold is likely to catch up to anyone who is not paying attention. Graham sagely recommended that intelligent investors sell when stocks are expensive and to buy when they are cheap. This goes for gold and any other precious metal. Who doesn't believe that gold is expensive today? If you hold gold too long, there is a good chance that you will not be able to sell it fast enough when the bottom of the market drops out. It is better to sell off some gold now and put the money into other investments to hedge the market. I predict that as the U.S. economy strengthens, gold prices will beunder pressure and will fall under $800 an ounce by the end of 2011.