North American gold production is just about over, according to Casey Research, accounting for only 16.3 percent of total global gold production.

In other words, 83.7 percent of all the new gold every year comes from outside our continent, making it imperative that U.S. investors become comfortable with investing in gold from overseas sources.

Only five of the 15 largest gold deposits in the world are in the North America or Mexico. Several countries where gold has been traditionally mined, such as South Africa, Australia, and the U.S., are suffering production declines as well.

Not only is more gold being mined elsewhere beyond our borders, more is being found elsewhere as well: China and South America are just now starting to ramp up their gold production.

Meanwhile, Mark Johnson, manager of the USAA Precious Metals and Minerals Fund, discounted concerns about a gold bubble.

He said he doesn’t believe the price of gold has reached a calamitous level.

In a recent interview with Fortune Magazine, he said there are numerous reasons to still buy investments tied to the gold price, especially gold stocks and shares of gold mining companies.

“Think of gold as homeowners' insurance,” Johnson said. “The question when you own a home isn’t whether you carry insurance. It’s how much you have. If you really believe we’re in a (gold) bubble, have minimal exposure.”

Moreover, some members of Congress continue to promote a bill that could dramatically harm mining in the states, while China and many parts of South America are welcoming foreign mining companies.