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Ron Schouten | February 16, 2018

The World Gold Council has recently posted its analysis of the continued relevance of gold.

As one might expect from the source, the WGC finds that gold is a strategic asset that can play several valuable roles in a portfolio.

Toward this end, the paper offers a chart of gold’s returns over three distinct time horizons: 10 year, 20 year, and since 1971. The last of those periods, then (I’ll spare you the arithmetic) is 47 years. It is significant because 1971 is the year that President Richard Nixon pulled the United States out of the Bretton Woods system created by the victors in World War II.  Since 1971, the dollar has been free to float as against the value of gold and by virtue of logical equivalence the value of gold has been free to float against the U.S. dollar. So this is the longest continuous time horizon available.