%) and 28% (33%), respectively. Today's high real price of gold suggests that gold is an expensive inflation-hedge with a low …Currently the real, inflation-adjusted, price of gold is almost as high as it was in January 1980 and August 2011 …. Since 1975, periods of high real gold prices have occurred during periods of elevated concern about high future price …

investment opportunity. Gold has been described as an inflation hedge, a “golden constant”, with a long run real return of zero …Gold objects have existed for thousands of years but for many investors gold has only recently become a tradable …. Yet over 1, 5, 10, 15 and 20 year investment horizons the variation in the nominal and real returns of gold has not been …

statistic is rarely calculated, perhaps because it is path dependent and estimated with greater uncertainty. In practice …