Gold Overvauled Says Investment Officer

Gold is 15% to 20% overvalued, according to Jack Ablin, the chief investment officer of BMO Harris Bank. Here's a video of his interview with Yahoo! Finance's "Breakout":

On Monday, the price of gold was flirting with the milestone value of $1,600 per troy ounce.

A highly respected figure in the investment world, Ablin is a frequent contributor to CNBC, Bloomberg, The Wall Street Journal, and Barron’s and was named one of the top 100 wealth advisors in North America by Citywealth magazine in 2006, 2010, and 2011. He is the author of the Wall Street Journal bestseller Reading Minds and Markets: Minimizing Risk and Maximizing Returns in a Volatile Global Marketplace.