I'm still not going to buy gold, because it is like buying one stock, and that's too risky, BUT, I will admit I am surprised (and therefore was wrong) about gold continuing to stay where it is and actually continuing to go up since March 2009 along with the stock market. That is against what it has done historically, so either the attitude about gold really has changed forever (I'm still not sure that is the case) or this recession (which is now over) was severe enough and scary enough for people to get to gold and now are staying in it because they have seen great gains since 2007 and so they are convinced that it is the best place to be.
I still think that EVENTUALLY gold will come down as the stock market goes north, but I really have no idea when in the process this will happen.
Hopefully (for their own sake) people don't get so enamored with gold that once the tide turns they still stay with it. I've seen this happen with CDs. When CDs were gaining 12% annually in the 80s, many people used them as a big part of their portfolio, and some older people still do that just out of habit more than anything, but those 12% annual returns are long gone.
Anyway, the point here is that I was wrong about gold...can't say I never admit it when true.