Economist Peter Schiff has pointed out that gold has significantly outperformed equities over nearly 60 years, despite the Dow Jones surging nearly 50 times since 1966.
Equities Versus Gold
In a post on social media platform X, Schiff highlighted that gold has surged 120 times during the same period.
“The Dow Jones first hit $1,000 in 1966. It’s now approaching $50,000. That 50x gain is being heralded as proof of a spectacular economic boom. But in 1966 gold was $35. Today it’s over $4,200. That’s a 120x gain,” he said.
Gold was hovering at $4,230 per troy ounce at the time of writing.
He argued that in real terms, the Dow is 60% lower today than it was 60 years ago.
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