July was a good month for gold. The yellow metal was up 2.1% on the month, driven in large part by a weakening dollar and political uncertainty in the US. In fact, it’s been a good year for gold so far. It’s up just over 10% to date.
This is great, but we’re taking a pretty short-term view here. What do things look like if we step back and take in a broader perspective?
It’s been a pretty good century for gold.
It’s easy to get caught up in the day-to-day fluctuations in the price of gold and lose sight of the bigger picture. And when it comes to investing that big picture is key. The price of gold tomorrow probably doesn’t matter too much to you. But the price of gold in 10 years – that might be a bit more significant.
All eyes have been on the stock market over the last several months. The Dow cracked 22,000 this week. Mainstream pundits are giddy. Meanwhile, as an article in Forbes pointed out, gold has actually outperformed the stock market so far this century.
This post was published at Schiffgold on AUGUST 4, 2017.