In truth, gold has been a poor investment for a long time...
Other safe havens have done much better... Government bonds... Swiss franc...
Gold rises and falls with oil, copper and wheat, and all the other things that get turned into stuff in factories. It is still a useful metal. But it is not money — and after its failure to rally in this crisis, even the most dogmatic gold bug may well have to admit that.
(Matthew Lynn in The Spectator)
The picture...
