For the week ending today, gold is up 2% to $1,967, silver is up 4% to $24.34, platinum is up 4% to $966.00, and palladium is up 2% to $1,331.00.
Since a year ago today, gold is 14% higher, silver is up 29%, platinum is up 13%, with palladium still on sale for the 1-yr period, down 35%.
One of the reasons I believe gold is a good investment today is because it has been a good investment for thousands of years. It is one of the few investments proven to preserve wealth through practically any economic or geopolitical conditions, including war, depression, or stagflation.
But for those who don’t expect to live for thousands of years, let’s look at a more reasonable timeline.
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What if you could buy something and forget about it, not pay taxes or fees to own it, and not have to report owning it for 50+ years, and it averaged about 8%/year performance? If you would like something like that, then consider gold for some of your savings.
For 20 or 50 years, gold’s long-term average performance was about 8% per year. For the last 10 years, it has only averaged 4.04%, meaning it will have to average at least 12% for the next 10 years to catch up.
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byBill Stack