Gold; not just for the "end is near" crowd anymore.

As a store of wealth, gold has been coveted since the beginning of civilization. Fear and uncertainty have played their role in driving the most recent rally in the metals, but very rational arguments can be made for holding gold. First, the stock market has been tanking and no real visibility in sight. Uber-safe
U.S. treasuries have rallied to the point that they don't pay a return or the yield is so low that it gives little protection for coming inflation. A money market or CD often doesn't break 2% return for the year. With the specter of higher taxes and more robust auditing from the IRS for upper income folks gold is looking like a good place to park money. Swiss bank accounts aren't even safe anymore from the watching eye of the IRS.
It is easy to say that the old 1980's mantra of putting 10-20% of your portfolio into the metals may come back. And with a more interconnected global economy, citizens of smaller country may do the same, being worried that they may be living in the next Iceland. Adjusting for inflation the old high of gold would now be around $2300. With the current gold price between $900 and $1000, there is more upside than downside in the long term.