Can’t make money unless you buy when something dropped and sell it after it goes up. Has worked for 3000 years, but you probably think we are in a new era where gold is useless and will drop and drop and drop. Maybe you should check out the story about the Austrian economists and their gold prediction when gold became unlinked from the dollar in 1971.
Believing that the world has changed is the same like everyone telling that wheat prices should go down since it can always be produced more efficiently and because the prices have languished for years. Marc Faber pointed out two years ago that agricultural commodities were historically cheap and a good trade. Yes, nothing is guaranteed, but closing your eyes to what markets do is not a good risk/reward either. So he was definitely rewarded for his stance. See chart.
