Friday, August 13, 2021

Gold's standard-free 50 years leave metal behind S&P 500

Gold has a golden anniversary Sunday. Fifty years will have passed since President Richard Nixon said the U.S. government would no longer convert dollars into the precious metal at $35 an ounce, which effectively ended the gold standard

While the metal generally had bigger gains since that time than the S&P 500 Index, there was no comparison between the two after accounting for dividends, according to data compiled by Bloomberg. The S&P 500’s total return approached 20,000% this week, while gold returned about 4,200%.

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