Gold is the universal constant and, relative to weakening fiat currencies, it will do what it always has done as a stable and enduring store of value; hedge against inflation and currency devaluation. Gold has always been the safe haven asset of choice amongst prudent investors and now gold can be used as currency with utility and accessibility as well as paying yields. As the cost-of-living crisis deepens globally, now is the time to rethink our relationship with gold.
Functionality: gold was phased out because of its impracticality but modern tech has allowed for digital gold which can be spent on everyday transactions
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Stability: as people lose faith in fiat, they flock to alternative assets – hence why cryptocurrencies have been so popular. Gold-backed stablecoins provide stability and appeal as an alternative payment method
Inflation-proof: gold is a historical inflation hedge, so as rapidly rising inflation, poorly performing assets and savings, and alarming levels of national debt cause people to lose faith in their country’s currency, gold could take over.
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By GlobalData
