I have a mini-market and a shotgun to defend my actions from looters. If we're in some kind of post-crisis world where dinosaurs roam the earth, I doubt I want your gold. It will be as useless (or as valuable) as paper money. Why? Because, in reality, gold is also fundamentally a fiat currency.
That is, people have assigned it an arbitrary value. That value fades in a crisis, as does the value of paper money. We need it for too many things to lose its luster as a raw material and as an investment. Some people argue that gold has no intrinsic value, that it is a barbaric relic that no longer possesses the monetary qualities of the past.
They argue that in a modern economic environment, paper money is the preferred currency; that gold is only good as a material for making jewelry. You can't eat it, drink it, smoke it, or drive it. Its value is based strictly on the value perceived by another person, and that has proven to be very volatile over the years. Gold can stimulate a subjective personal experience, but it can also be objectified if adopted as an exchange system.
Investors don't escape the higher rate when they buy gold through gold bullion exchange-traded funds (ETFs). Under the gold standard, you can ask a bank to convert your paper money into gold at the legal rate (whatever). If gold were to fall to that price, production would decrease, which would help to prop up prices, but if gold continues to rise, that will stimulate production, since mines that were previously unprofitable become profitable. Most would agree that gold has always had value, for all these reasons, as a component of decorative jewelry, a currency at one time and as an investment.
You don't know what economic conditions lie ahead and how they will affect demand for gold. Gold is considered a hedge against inflation and a U.S. Weak U.S. Gold is the metal we'll turn to when other forms of currency don't work, meaning that gold will always have value in difficult and good times.
Especially on Facebook forums, there's a lot of talk about how gold is a great long-term investment. Ironically, despite the inflationary basis of a paper money system, well-preserved paper money from the early 19th century is often worth its nominal value in the collector market, far surpassing gold bars as a long-term investment. Gold is probably like a penny stock because there's so little real gold at stake that it's actually less liquid than Bitcoin. Today, let's discuss the pros and cons of investing in gold using my own opinion as a starting point.
If that's the case, it won't be inflation that throws gold into the stratosphere, and if that's the way the price of gold is going, I'll ignore the small drawbacks of economic problems and come to see a much larger picture. Although some gold-plating methods have existed since approximately 600 BC. C., modern science has perfected the process and its main use is for gold-plated jewelry. I have 0% of my investment dollars in gold and silver, and I hope that will be the case in the near future.