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Stifel Nicolaus’s market strategists are taking the really long view on gold. And Stifel’s call isn’t good news for those waiting for the metal to retest its 2011 high.
“Given the similarity of the gold price since the April 2011 peak” to the Reuters CRB Commodities Index, “we will assume gold and commodities follow the pre-WW2 commodity-downcycle historical pattern” through the 2020s. Regards, Ted https://www.google.com/#q=Gold+Could+Be+a+15-Year+Dead-Money+Investment+wsj
