Gold — typically a safe-haven in times of turmoil — is soaring at the same time the stock market is hitting new highs, an unusual dynamic that is troubling some market insiders.

Why it matters: The rally in gold reflects investors' desire to diversify away from dollar-denominated assets as trust in the U.S. slowly erodes, they say.

Driving the news: Gold futures on Tuesday topped a record high of over $4,000 an ounce for the first time, putting the precious metal on track for its best year since 1979 — a year of double-digit inflation, a Mideast oil crisis and the Soviet invasion of Afghanistan. So far this year, the price of gold is up 51%.

What they're saying: "People are willing to go long U.S. enterprise, and they want to short the mess," Mohamed El-Erian, the former CEO of the asse

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