Gold, on a relative basis, has performed well this past year. GLD as an example is up 3.27% versus the decline of 12.77% by the S&P500. Conversely, since it has underperformed relative to soft commodities such as Corn, Soybeans and Wheat, some people seem to question whether gold is in fact an inflation hedge. Arguably, this is a function of what you use as your input in tracking inflation, which at 8.6% may be an extreme number. The strength of the US dollar is perhaps the biggest issue. To this point, Mike McGlone, the Bloomberg Intelligence Commodities Strategist, points out that since gold is not breaking out and ... (full story)