Simple. The backbone of wealth generation in Australia is housing whereas gold is not. The diverge between house prices and commodity prices is far more interesting considering that we are a commodity producer and hence our national livelihood is more reliant on commodities as a whole.
Why does that make it 'ridiculous' to compare the performance of property against gold (or other asset classes)?
Do you keep a matrix of asset classes documenting which ones you permit yourself to compare to which others?
Do you allow yourself to compare property vs shares? Gold vs shares? Shares vs commodities? Silver vs cash? Cash vs bonds?
Or is property vs gold the only pair whose performance you will never compare?
And what statement is that Dante? That demand for gold in Q2 is somehow irrelevant in the current bout of currency devaluation?
Demand for gold in China in Q2 is not related to a currency devaluation in Q3, except if investors knew that the devaluation was coming, in which case the demand for gold in Q2 would have increased, not decreased.
Any expressed market opinion is my own and is not to be taken as financial advice
First of all, the drivers of the price of each are fundamentally different. Unlike asset classes such as shares and cash. Duh.
Secondly, cash and shares are likely to be more obvious investments in the suburbs than gold.
Decisions are now made to by houses or gold based on comparative trade offs. It's stupid.
Nice waffle, but you still haven't answered the questions.
Let's leave it at this... I will continue to compare the performance of property against gold or any other asset class. If you dare not perform such comparisons yourself, that's fine.
Personally, by refusing to compare the performance of property vs gold, I think you're going to limit your insight into the relative performance of asset classes, but it's up to you.
Nice waffle, but you still haven't answered the questions.
Let's leave it at this... I will continue to compare the performance of property against gold or any other asset class. If you dare not perform such comparisons yourself, that's fine.
Personally, by refusing to compare the performance of property vs gold, I think you're going to limit your insight into the relative performance of asset classes, but it's up to you.
OK good. No point bothering with commodities too. Just a pain in the ass if you rely on them for your livelihood.
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