It is always nice when someone who probably shouldn't be a gold bug turns out to be one. So I was pleased to see a note from SocGen's Dylan Grice this week on the subject.
Dylan doesn't approve of long-term investments in commodities: he considers betting on commodity prices to be a bet against human ingenuity. "Why should commodities provide investors with a real risk premium? Shouldn't prices actually decline in real terms over time?"
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