Great overview and background on Gold as a Commodity over at Crossing Wallstreet.
The summary for current investors is…
My view is that the Federal Reserve will raise interest rates earlier than expected. I don’t know exactly when that will be but it will put gold on a dangerous path. For now, my advice is to stay away from gold, either long or short.
… but you should read the whole thing for a lot of interesting tidbits on the history of gold and how to track and trade it. Here’s another quote …