Gold is in a bubble - only traces inflation due to 'Reflexivity'Do not follow the financial advice of dinosaur gold shills, who are mostly over the age of 65 years and have weakened IQs and memory retention. Please study George Soros' Theory of Reflexivity (inb4 "Soros is evil, Qanon blah blah blah"). Gold only traces inflation because people 'believe' it should trace inflation. Gold has little to no utility in manufacturing especially given the discovery of synthetic substitutes ionised from copper particles. Gold is a great luxury asset used in the production of Jewellery which the world has an over abundance of already, that can easily be recycled. Like all asset bubbles such as real estate, stocks, bonds, etc Gold is also in a bubble. Gold has no future in a digital economy. The world has experienced the greatest reduction in poverty since the abolishment of the gold standard. This is due to the velocity of money, where the faster the exchange of value is in any given economy the more growth said economy experiences.
The world will never return to a 'gold standard' because the negotiation of trade and the rules of exchange can be much more efficiently coordinated and managed using computer networks and high tech communication systems. Gold is a barbarous relic, and has no inherent/intrinsic value since all words and perceptions of value are subjective and change rapidly over time. If value is subjective, and we live in a highly complicated matrix society that has vast computing resources at it's disposal then what purpose does gold actually have? Cryptocurrencies are in a bear market and due to the Theory of Reflexivity their value is underestimated by society at large. However their utility in terms of the velocity of money, where value can be exchanged in seconds, where consensus is regulated by a large distributed network, where security is guaranteed through various cryptographic algorithms such as SHA256, and where productive capacity is maintained by decentralised autonomous communities (which are virtually impossible to compete with) makes certain cryptocurrencies far greater investments than Gold and precious metals.
Do some research on XRP and Ripple. Do no fall for the doomsday fear porn that drives the sales of precious metals. Look to countries such as Turkey, Venezuela, Argentina etc and realise that cryptocurrencies best facilitate trade during periods of economic downturn. Those countries aren't turning to gold to facilitate trade, especially since Gold is extremely difficult to maintain security over. Will gold always have a place in society? Yes, of course it will. Will gold ever shift the paradigm of civilisation as we know it? Hell no. I'm not saying you shouldn't maintain holdings of precious metals, but you should reduce your exposure to them, since cryptocurrencies will dramatically shift the perception of value that we currently place on gold going into the future.
