Victor, RE: bambs would like the investing public to NOT recall that gold has been a disaster of an investment for the last 30 years. A complete, unmigitagated, collosal disaster.
30 years ago the price of gold was $38. Today it is a touch over $300. The price of gold has increased about 7.1% annually. Not a home run, certainly, but definitely not "a complete, unmitigated, colossal disaster". In fact, 7.1% is better than the average investor has done over that period of time. Of course, 30 years ago it wasn't legal for U.S. citizens to own gold.
30 years ago, in 1972, the S&P 500 averaged 109.10. Over the past 30 years, ex dividends, the S&P 500 has returned 8.0%, not much different. The only reason the S&P has done better than gold is dividends, which in 1972 were a bit more than 3%. |
