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Why Gold Prices Are Misleading

Common gold-valuation metrics, which measure several ratios, are likely to be wrong because gold doesn't have a core value, says State Street's Chris Goolgasian.

Ben Johnson: Hi. I'm Ben Johnson, Morningstar's director of European exchange-traded fund research. I am here reporting from Morningstar's 2011 ETF Invest Conference. Today, I am joined by Chris Goolgasian. Chris is a portfolio manager with State Street Global Advisors, and he shared with us today his team's thoughts on the outlook for gold, something they've worked on quite extensively and actually recently published a really high-quality research report on. So, I am going to ask Chris what he thinks about gold and what his team thinks about gold, the outlook, and how gold can be used within investors' portfolios.

Chris, thanks for joining me.