Checking Accounts Outperformed Gold Over the Past 30 Years
Despite gold's steepest one-year rally (+30%) in three decades, the lowly checking account would have outperformed the price of the precious metal over the past 30 years. Bloomberg.com reports that investors who purchased gold for $850 per ounce in January 1980 would have gained 44% through December 3 of this year. In contrast, cash in the average checking account rose at least 92% over the same time period. Moreover, the S&P 500 Stock Index rose 22-fold with dividends reinvested, and Treasuries rose 11-fold over the past 30 years.
Please click here for the report from Bloomberg.com.