Are precious metals still precious?

“Precious metals, especially gold, have a reputation for being a hedge against inflation. This reputation, however, is difficult to support. Gold has had a surge lately, and there is a tendency to take recent results and extrapolate them. But the reality is that gold has a 200-year history of abysmal long-term returns, briefly punctuated by a frenzied interest, only to eventually return to the mean. Don’t confuse short-term volatility with long-term performance.”

Brad Brain_ Are precious metals still precious_ _ Alaska Highway News