January 2012 - Tocqueville
Tocqueville Gold Year-End Investor Letter – 2011

Tocqueville Gold Year-End Investor Letter – 2011

2011 was a good year for gold bullion, up 11.3%, but a tough year for gold stocks which declined 18.3% based on the XAU index of gold and silver stocks.  We addressed the reasons for the disparity between the performance of gold bullion and gold mining stocks at...