In March of 2023, about eighteen months ago, I wrote a piece in this forum titled “GITA: Gold Is The Alternative” (see here), suggesting that investors should look at gold as an investment for various reasons listed in that piece. At the time, the price of gold was around $1,979 per ounce. As of today, the price of gold is $2,775 per ounce, which is 40% higher than March 2023.
By any means, the yellow metal has defied skeptics and continued to shine. For reference, over the same period the S&P 500 is up over 50% on a total return basis (inclusive of dividends, etc.), and bitcoin is up almost 160% (Source: Bloomberg). All the monetary and fiscal stimulus has certainly raised asset values. It has been a good run for investors despite global geopolitical turmoil and uncertainty. Now, as we sit on the eve of one of the most uncertain and polarized elections in memory, curious minds want to know — can gold’s tear can continue?
The full note on this important topic can be downloaded at this link: LTA Thinking – Going for Gold… Again