Would it be stupid for the long-term investor to buy gold today seeing as the market has been on a tear over the last few months? One thing that I have always questioned about holding gold is that the majority of its use is for jewelery. I hold it because I don't have faith in fiat currency regimes. However, even though 33.33% of my networth is in gold - I think it makes sense to increase that percentage after the FED has shown no care for inflation and continues to pump money into the system. So my question is - do I wait for a better buying opp or allocate funds elseware. I'm interested in why other people hold gold for the longterm.