Stocks have had a great year, despite Tuesday’s sell-off and the market swoon in early August. Gold, however, is doing even better. The metal is up about 30% in the past year, compared to roughly 23% for the S&P 500. Gold’s spot price sits above the $2,500 mark, down slightly from an all-time high set before Labor Day.
Long viewed as a safe-haven asset and hedge against inflation, gold has historically lagged behind both inflation and equities, said Rob Haworth, a senior vice president and investment strategist at U.S. Bank.
