年长的投资者可能会记起1962年的情形，当时美国国库券收益率还不到4%，其持有者在此后的5年、10年和20年内承受了负的实际回报率。

Veteran investors may recall 1962, when the Treasury-bond yield was less than 4%. Those who bought bonds then earned negative real returns over the succeeding five-, ten- and 20-year periods.

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截止本周四为止，黄金在过去五年内的实际年收益率竟高达18.3%。

As of Thursday, gold's annualized real return over the past five years is a stunning 18.3%.

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