Should I invest in Gold ?

The common question about every asset class or every thing which is going up and appreciated in past. We always tent to take decisions on the basis of past performance which may not be repeated.
Because Gold has given very amazing returns over last few years every body is loking for the opportunity in to it. But the question comes wherther the same performance can be repeated ?
To get the answer we have to look first on the reasons why gold is appreciated ?
1. The scarcity ?
2. Precious metal ?
3. Indians buy gold & keep on Buying ?

are  the normal reason which most of the people know but in addition to this the main reason of appreciation  is Gold is a Surrogate currency .
If i am not wrong , After second world war US come up as a financial Power in the World & that's why in international market the prices are reflected in US$. US $ is accepted worldwide as a currency of Exchange & $ started appreciating. World over Central Banks converted their Gold reserves ( which was earlier well accepted currency from ancient days .) in to US$ .
but soon after the Sub-prime issue & I wolud say a Financial corruption Faith on US$ drastically reduced world over as a result ,in search of trusted commodity of exchange Gold came again on Radar of central banks world over & demand started building for gold resulted in to Amazing returns of gold in past few years. But position right now is different ,the demand may not be the same what was there in past years as the banks world over accumulated Gold reserves already, there may be a little or no chance for further Huge accumulation.
Then what will happen to price of gold in coming years ? Question still remains .
I personally feels that the price of Gold may go up or may come down in short term but one thing is sure that it will keep on giving inflation adjusted returns on long term.
For short term traders there may be an opportunity to to take advantage of volatility.
For long term investors there is no need to go panic.Keep right allocation of Gold in your investments & for those who may need gold in Physical form in coming years keep on accumulating small small portions of pure gold regular way without thinking of Price.
Pl do not put your major portion in Gold, keep your investments diversified.
I don't think the last few year's performance of gold can be repeated in Future. keep yourself away from Greed.
Happy Investing !