Gold bugs didn’t invest heavily in gold at its peak.
“Thomas McCarthy, a financial planner at McCarthy & Cox, a firm that specializes in retirement planning and estates, says putting some of your retirement portfolio into gold isn’t crazy. “Gold can be a hedge against fear and holding a small 5% position of gold in an IRA or 401(k) (very few offer it) is not a bad hedge,” he says. “For clients looking to do so, we use a gold [exchange-traded fund] as opposed to actually buying the physical gold because its significantly less costly and easier to trade.”
Okaaay, that makes sense, but then he makes a nonsensical remark that ….
“But, he warns, “Investors in gold need to remember that gold doesn’t pay interest, doesn’t earn dividends and you make money only if the demand pushes the price higher. Many gold bugs who invested heavily in gold at its peak are still waiting many years later just to break even.”
He totally misunderstood and misstated the truth: Gold bugs didn’t invest heavily in gold at its peak. Gold bugs bought in early – they’re gold bugs for cryin’ out loud! The herd of Sheeple bought in at the peak.
https://www.marketwatch.com/story/there-is-no-gold-bullion-dealers-sell-out-in-panic-buying-2020-03-25
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