What You Should Know About Investing in Gold
It’s often pitched as a “safe” investment, making it seem appealing during periods of volatility, but...
It doesn’t generate income like bonds or some stocks—and it has gone through long periods of underperforming stocks and bonds.1
Gold is extremely volatile, especially in short time frames. Prices can swing based on anything from interest rates to news headlines.
It’s hard to time. Investor sentiment is hard to predict, making it harder to avoid buying high and selling low.
Traditional investments like stocks and bonds have had less volatility while providing the growth needed for a comfortable retirement.2
1Source: Finaeon, Inc. as of 5/15/2025. US 10-Year Government Bond Index, S&P 500 Total Return Index and Gold Bullion Price from 11/30/1973 – 4/30/2025.
2Source: FactSet, Finaeon, Inc., as of 9/16/2025. MSCI World Total Return Index and gold spot price returns (London PM fixing, USD), monthly, 1/1/1940 – 9/15/2025. Finaeon proxy data used prior to 1970 because the MSCI World did not yet exist. Volatility measured by standard deviation, defined as the amount of variation in annual returns.
Why Might Gold Feel “Safe” During
Uncertain Times?
Gold can spike in popularity when stock market uncertainty is high or inflation is rising. It’s tangible, familiar and historically viewed as valuable. But that doesn’t make it a reliable investment. We uncover the truth about gold in the video below.
Long-Term, Goal-Driven Investing
(Without Gold)
At Fisher Investments, we believe in providing a disciplined and appropriately diversified investing strategy tailored to clients’ goals—our approach doesn’t rely on commodities, which aren’t the best way for investors to build and maintain wealth, in our view.
We work with high net worth individuals to:
Create a tailored investment plan based on goals
Stay disciplined and avoid common emotional traps, like chasing hot investments or sitting in cash
Invest in globally diversified assets designed for long-term growth
190,000+
individuals, families, businesses and institutions around the world
$362 Billion
in assets under management,
as of 9/30/2025
45+ Years
experience serving clients and helping them achieve their investment objectives
6,300
employees dedicated to your financial goals
Stocks Have Outperformed Gold Long Term—Here’s Why
Gold doesn’t produce income or grow on its own. By contrast, stocks represent ownership in companies that grow, generate profits and can pay out dividends. Below are a few key things stocks can do (that gold can’t):
Provide Growth: Companies reinvest earnings, driving long-term wealth creation.
Generate Income: Many stocks pay dividends, which can support ongoing cash flow needs.
Outpace Inflation: Equity markets have historically outperformed inflation by a wide margin, while gold has gone through long periods of returns lower than the rate of inflation.1
Provide Diversification: Stocks can offer exposure to industries and economies worldwide, which helps reduce risk.
1Source: Finaeon, Inc. as of 5/15/2025. S&P 500 Total Return Index and Gold Bullion Price from 11/30/1973 – 4/30/2025.
