A Golden History
Gold has always been a refuge in troubled times. In early 1815, when Napoleon escaped from Elba to return to France and war seemed imminent, the price of gold in London rose more than 20 percent; it fell back that June after he was beaten at Waterloo.
“Gold has longevity. It doesn’t go bad,” said Bart Melek, global commodities strategist at BMO Capital Markets in Toronto. “It’s hard to replicate.”