Gold loses some luster after Trump’s decisive win
Gold’s slide is a marked turnaround for a commodity that had surged by more than 30% in the year leading up to the US vote.
As Comex gold hit a fresh record high, Societe Generale commodities skeptic Dylan Grice – of the ‘long-term return on commodities is zero’ fame – wrote a stirring paean to gold in his latest research report.
Marked by his characteristic erudition, with references to gold’s use as a hedge in the world of antiquity, Grice’s report is worth reading and thinking about.
