Raging Bullion: Is Gold a Good Investment?
Many Happy Returns
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Is Gold a Good Investment?
Gold is an uncorrelated asset in the sense that it doesn't have a very high correlation with equity or with bonds, at least not over the long term. The strength of the dollar, the value of real interest rates are much more important when it comes to looking at the price of gold. Over the short term, it can correlate with risky assets for short periods of time. It does have this kind of weirdly floppy correlation. But yeah, certainly over the very long periods of time, it is uncorrelated. So it has that attractive property. There is another way to get exposure. And that's what Warren Buffett did in fact, which is not to buy gold, but
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