I know people out there who have invested a lot in gold under the belief that in the event of like complete societal collapse or hyperinflation, they could use it for purchasing.
I have the hunch it’s a scam, but I haven’t learned enough monetary theory, business, or economics to understand why.
Look at the zoomed out 5 year chart for its price and you tell me.
$1,839 -> $4,217
Yes, but:
https://www.macrotrends.net/4534/cpi-purchasing-power-of-the-dollar
Gold is just another asset, it belongs in any long term portfolio at least to a small degree, and if you take the possibility of market instability seriously, you might consider keeping some actual metal on hand. Though silver is somewhat more practical for that.