| Gold has surged in 2016, against a backdrop of political uncertainty and consistently low interest rates, but it has not broken past its 2011 high. Gold is up 24% year-to-date, a performance only bettered in the past 12 years in 2011 at the height of the Eurozone sovereign debt crisis.
But, as analysts at Macquarie note, the gold price of around $1,300/oz is still 30% below its all-time high of $1,895. And the real gap is even bigger. Adjusting for US inflation, "that 2011 high is worth over $2,000/oz in today's money," Macquarie said in a note to clients...............................................Full Article: Source
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