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Jim Rickards: Gold is the everything hedge
By James G. Rickards
The Daily Reckoning, Baltimore
Thursday, April 24, 2025
It's a subject we analyze continually, and we have recommended gold as part of a sound investment portfolio for years. Today the dollar price of gold is hovering near all-time highs over $3,300 per ounce.
Gold has been on a tear lately. It was $1,830 as of October 5, 2023. At today's prices, that marks a 75% surge in just 18 months. Gold has outperformed stocks by a wide margin this year, but it has also outperformed stocks for the past 25 years. Gold was around $250 per ounce in 1999. The gain since then is 1,180% or almost 12 times the starting price.
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This is not the first bull market for gold.
In the gold bull market of 1971 to 1980, gold rose 2,185%. In the gold bull market of 1999 to 2011, gold rose 670%. There were notable gold bear markets from 1981 to 1999 and again from 2012 to 2015.
There were no bull or bear markets before 1971 because the world was on a gold standard and the price was fixed at $35.00 per ounce from 1944 to 1971.
Still, the upward trend in gold prices is relentless and undeniable. Taking the entire period from 1971 until today including bull and bear markets gold has risen over 9,000%. Not bad. ...
... For the remainder of the commentary:
https://dailyreckoning.com/gold-the-everything-hedge/
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