Gold gave 9.9% annualised spot return over 20 years: How it compared with other commodities

Gold delivered a 9.9% annualised spot return over the 20 years to June 2026, significantly outperforming several major commodity categories, according to the World Gold Council. Its futures return was also relatively close at 8.9%, highlighting gold’s lower exposure to the roll costs that can weigh on other commodity investments.