After plunging for almost five years between 2011 and 2015, the price of gold in US dollars is now back near the high it set around nine years ago. Imagine you'd decided to invest in gold for the first time in the summer of 2011 right at the peak. You'd now be approaching breakeven in terms of price. But the long wait means that inflation will have eroded the spending power of your invested money. So you'd still be sitting on a losing investment instead of being on your way to making a million.
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