Gold has been on a tear since 2000, but its long-term record of growth for individual investors is pretty poor. From the end of 1999 through 2011, gold beat most major equity asset classes, gaining an average of 12.3 percent per year, says Dimensional Fund Advisors, a large California-based investment firm. But the record since 1975, when individual U.S. investors were first allowed to own gold, has been much worse. Since then gold has returned only 1.82 percent per year, much less than stocks, DFA said.
