By John Hathaway
Gold continues to deliver strong relative performance and is up 12.97% on a year-to-date basis through April 22, 2020, versus -12.84% for the S&P 500 Total Return Index.1
As of April 22, 2020
* Average annual total returns. Source: FactSet.
COVID-19: The Pin that Punctured the Credit Balloon
Gold is on the cusp of breaking out to all-time highs in U.S. dollars and has already done so in virtually every other currency. Gold mining stocks continue to lag the metal and, in our opinion, represent a compelling investment opportunity at this