There is an argument against buying gold that really ticks me off (and the same goes for bitcoin): it offers no return, no interest and no dividend, unlike conventional investments (stocks, bonds, life insurance, bank savings accounts, rental property). It would be a second-rate asset, imperfect and mutilated. We’d be completely dependent on its price, with no guarantee of future income. It’s preposterous.When we compare different types of investment, we need to take into account the overall return: the rise in the share price and the returns paid out, together. We’ve already discussed this work here. The benchmark study, updated in 2024, reveals that since 1999, the Livret A savings account has returned 1.83% a year (less than inflation), life insurance 3.09% (barely inflation), the stock market 4.40% (CAC 40, dividends reinvested) and gold 8.69%. These figures are unequivocal.The question is: how can we organize ourselves to make the most of it and, more specifically, to avoid being dependent on the volatility of the price of gold? To achieve this, we recommend the DCA (Dollar Cost Averaging) method, a concept introduced by Benjamin Graham in 1949 in his book The Intelligent Investor. This strategy involves investing a fixed amount every month or quarter. It’s a way of getting rid of the stress of knowing when to buy: you do it regularly for the same amount, period. If the price of gold rises, you’re happy to see your overall stock increase in value; if it falls, you’re happy to be able to buy more. And in the long term, you’re a big winner. The DCA strategy can be complemented by “opportunistic buying”, either after recovering a large sum of money, or when you feel that the price is particularly low and represents a good opportunity.The DCA method is also worth noting for the discipline it imposes: you calculate your income and expenses to determine your savings capacity. One part is kept in the bank as precautionary savings, while the other is invested over the long term in assets that are more volatile, but offer a better return over time. You set up an automatic transfer and then stick to it, managing your budget seriously.Then, to generate income from what you’ve accumulated, you can do what I call “DCA in reverse” (I don’t know if there’s a term for this): when you retire (which is when the question arises), if you want to supplement your income by, say, 1,000 euros a month, simply sell 1,000 euros’ worth of gold every month (or every quarter, to limit the number of transactions), regardless of its price. Quite simply. And the whole operation (DCA + reverse DCA) applied to gold is far more profitable than for other financial assets. To guarantee a monthly retirement income of 1,000 euros from life insurance, you have to invest much more, i.e. deprive yourself of a greater proportion of your income while you’re working.The fact that gold doesn’t generate a return is a fallacious argument, often put forward by the banking sector to discourage investment in this metal. Don’t be fooled.More By This Author:London Gold Market Defaults On Physical Gold Deliveries The New US Administration, A Bullish Catalyst For Gold Silver/EUR Poised For Next Leg Higher As It May Significantly Outperform The FTSE