ROTTEN returns of gold and silver, the two most pathetic commodity performers in history
And the bullion funds (notably CEF and GTU) sick performance this year now reflects the reality of gold and silver BEAR markets
1980 --- Gold traded for $800 an ounce
2012 --- Gold trades for around $1700 an ounce
If you factor in 32 years of INFLATION (an average 5% per annum), then it would take a NOMINAL gold price of $2100 an ounce simply for the forever pathetic gold bullion to match its REAL value in 1979 dollars (after accounting for all those 32 years of INFLATION)
In other words, gold has NEVER been in a real "bull" market these past 32 years. It remains in a BEAR market and it remains one of the worst performing commodities in history, with only the truly hopeless silver being worse, since silver has even FAILED to match its NOMINAL dollar high of $50 an ounce set in 1979 LOL
I note with interest how people who are negative on gold always use the $800 in 1980 figure to calculate from. People who are positive on gold calclate from $35 in 1970. Personally, I don't like gold and silver. I would prefer honest responsible government. But until I can have the latter, I will hold the former.