Ric Edelman: In this series I've spent a lot of time explaining why gold isn't always the great investment people claim. But that doesn't mean that you should never own gold. In fact, gold does belong in a diversified portfolio just like all asset classes do, and not just gold, but all precious metals; silver, platinum, palladium, and more. You should also own minerals like zinc, copper, and other metals as well as commodities, oil and gas and timber.
You shouldn't buy these assets because you think they are going to rise in value, but simply because they might at a time when other assets like stocks, bonds, and real estate don't.
So don't try to predict what's coming next, instead, construct a diversified portfolio.