Let me try to answer that: :) for the fun of day.

For the laugh of it. Donot take it serious.
*******

There are several possibilities:

1) Investors can not leverage to buy and hold gold. So they convince themselves gold is bad hedge.

2) Since gold is doomsday hedge, it will mean most of investors' other investments are going to be worth less or worthless. (measured in gold price)

3) Do not understand the charicteristics of gold -> for such a high price, you hold such a small piece of metal. Except it shines, one can not eat it, can not yield cash flow. So it must be a barbaric relic.

4) Stock pays dividend, gold pays nothing plus it requires the owner to pay for the storage. Warrent Buffett said so, therefore it should not be included in the portfolio.

5) Those people who buys gold have dark mind. They shall be lined up and shot when and if bad time comes. (Actual quote)

6) Real Estates are better physical assets to invest: it yields positive cash flow. Beside of that, it is big so it must have more value. How can any one compare a palmful of gold with a huge house which at least one can live in there.

7) Whoever has gold will be killed when society is turbulent. Gold can not save life.

8) Financial guys hate it. They always say to balance your portfolios with stock and bond by age. You guys are not financial advisors, how the heck do you know what to invest?

9) Gold is in a bubble. Your advertisement about it is to set the trap for small investors.

10) My neighbor does not have it. In fact none of my budies and neighbors are talking about it. If it is not popular, it must be a bad investment or a scam.

Here is at least one truth:
If a financial advisor hates gold, one has to ask why?
Why? why? why?
Because the "financial guy" or better yet "the wall streeter" can not make a commision out from it. :)