Buy, Sell or Hold: As Gold Sets New Records, Ride Along With Yamana Gold Inc. (NYSE: AUY)

As of Friday, gold was trading above $1,300 per ounce for the fourth consecutive day, which means the break out in the price of gold in U.S. dollars is still going strong. Gold prices are setting nominal new highs regularly, but are still actually below their record high if adjusted for inflation. I love this kind of a sweet spot in a bull market move. You know that it's blue skies in nominal terms, but you also know that you are not yet being too greedy. That is, the upswing is still within the limits of the market's last bullish move. This would be like buying a stock that is trading significantly below its all-time high price, but with better fundamentals.