New Frontier Advisors and the World Gold council examine the case for gold as a long-term or strategic investment for US investors. From a long-term perspective, a fairly wide consensus exists that gold retains inflation hedging properties despite considerable fluctuations in the shorter term. Earlier studies that reported favourable evidence for the investment value of gold were generally limited by data availability and other methodological deficiencies. Using state-of-the-art statistical estimation technology based on Resampled Efficiency™ optimisation, this study shows that gold may have a comparable portfolio weight to asset classes such as small cap and emerging markets stocks due to its value as a diversifying asset. Gold may provide stability in poor markets and economic climates to long-term institutional strategic investors.