Gold has hit record highs more than 30 times this year. Is it too late to buy in?

Gold has repeatedly achieved record highs over 30 times this year, prompting investor questions regarding its continued upside potential. Despite these significant advances, Chris Mancini, co-portfolio manager of the Gabelli Gold Fund, suggests investors have not 'missed it' and that owning gold remains a sensible strategy.

Analysis

Gold has demonstrated significant strength this year, achieving record-high settlement prices on more than 30 separate occasions. This persistent upward trend has raised a critical question among investors regarding the sustainability of the rally and whether it is too late to enter the market. Countering the sentiment that the opportunity may have passed, Chris Mancini, a portfolio manager at Gabelli Funds, offers a bullish perspective. He explicitly advises investors not to be deterred by the recent price surge, stating a belief that the investment case for owning gold remains compelling. This expert opinion, aligned with the article's strongly positive sentiment, suggests that the factors driving gold's performance are perceived to have further room to run.

Key Decisions for Investors

• Investors who are underweight in precious metals should consider the expert view that it is not too late to establish or add to a gold position, interpreting the record highs as a sign of sustained momentum.
• For those with existing gold holdings, the guidance suggests that profit-taking might be premature, and maintaining current allocations could be prudent given the belief that the fundamental case for ownership remains intact.
• Despite the bullish commentary, investors should acknowledge the risks of investing in an asset after a substantial price run-up and ensure any new positions align with their specific risk tolerance.