Over 2021, the SPDR Gold Shares (NYSEArca: GLD) fell 5.5%. Despite a surge in consumer prices that hit four-decade highs in November, the traditional precious metal inflation hedge is on pace to end the year with its largest decline since 2015, the Wall Street Journal reports. “Theoretically on paper, this should have been an exceptionally strong environment for gold prices, yet they are ending the year lower than where they started,” Chris Vecchio, senior strategist at DailyFX, told the WSJ.