After all is said and done, gold is still a zero-sum investment. Historically, it's returned less than half of the stock market. Yes, the market is high, but so is gold.
There are just times when returns are exceptionally good, and there are times where you just sit there and sit. And there is much, much less of the first than the second. But if you miss those few times there's a big run up, you've lost most of the market's appreciation.
