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.

  • eightpix@lemmy.world
    21·
    2 days ago

    https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

    In August 1976, gold was $35/oz, close to its historical level. By October 1979, it was $380/oz, over 10× increase — peaking (for the 20th c.) in January 1980 at $668/oz.

    20× return in 3.5 years.

    Gold doubled again in value by December 2010, and again by January 2025 — to $2800/oz.

    The all-time high, 20 October 2025, $4377.58/oz.

    125× return in under 40 years.

    I’ve seen it said: it’s not that gold has gotten more expensive. Its that the USD is debased as a currency against the dollar. The gold standard for USD ended in August 1971.