Why the Gold Bugs Have It All Wrong

Gold prices have cooled off -- just a bit

-- since notching a nominal all-time closing high last week, but the outlook for the precious metal looks as glimmering as ever -- according to both inflationists and deflationists, alike.

And therein lies the problem, says Vishesh Kumar, financial writer at DailyFinance. After all, gold has little utility, no real intrinsic value and it can't possibly possess all the curative powers gold bugs claim, Kumar says.

"Gold's a great investment to take cover behind because there's no justifying it," Kumar says. "The cases to be made for gold are as malleable as the metal itself." For more, see the following video.