bullion

He attributes the boom in bullion buyers to worry about the economy.

You wouldn’t know it from the headlines of the past week about bullion’s record, but it’s just barely at a new high after inflation.

That has helped lift bullion prices nearly 50% this year, putting gold on pace for its best annual gain since 1979.

He’s long been running a notional portfolio he calls “All Asset No Authority,” which I’ve written about before and which consists of equal investments in seven different asset classes, one of which is gold bullion.

Gold’s run-up began almost three years ago, fueled by central banks and Chinese investors loading up on bullion.