Why the Wall Street Journal Will Never Be Bullish on Gold or Silver

Every few months, gold or silver rips higher, and every few months the Wall Street Journal runs the same piece: a skeptical think-tank economist explaining why “this time isn’t different,” a chart showing gold’s “poor risk-adjusted returns” versus the S&P 500, and a closing paragraph reminding readers that metals pay no dividend. Rinse, repeat. It’s not…