While geopolitical uncertainty looms large, the economic outlook, at least in the United States, has improved over the past year and the economy is in much better shape than it was a few years ago. As such, investors have shifted from a focus primarily on risk mitigation to one that more decidedly balances risk and reward.

Yet, limited upside on bonds — given the current low level of rates — and a stock market that many investors view as overbought suggest that a traditional cash/bonds/stocks portfolio mix may not be enough to produce adequate returns while effectively diversifying risk. In our view, a missing component is gold.

Throughout history, gold has helped investors preserve wealth and has provided liquidity when it is needed most. Today, it is an asset with unique properties and an important role to play in any well-balanced portfolio. While gold can help investors withstand the potentially debilitating market effects of global disruption, it also benefits