Gold is one of the most polarizing investments we know of, which is one of the reasons we started giving it a serious look at the end of 2017. While it has countless issues that make it sub-optimal as a long-term strategic portfolio holding, it does at least one thing quite well: hold its value during periods of significant market stress.
This week's chart looks at the absolute performance of gold during a few such periods of market stress. These periods have been selected with the benefit of perfect hindsight, which may make them less relevant for the future (but we still believe instructive). This analysis also does not take into account the costs of holding gold in its various forms, which are not insignificant.
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