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Buying gold to hold and then sell at a higher exchange rate is pure speculation.
by xya3453 9y ago
Buying gold to hold and then sell at a higher exchange rate is pure speculation.
- fortythirteen 9y agoBut is it not an investment?
- vasilipupkin 9y agoI don't think so, as gold has no inherent expected return.
- fortythirteen 9y agoThe combination of its increasing scarcity and real world use doesn't drive a return?
- vasilipupkin 9y agono. real world use explains why it has value not why this value should increase in expectation relative to general level of inflation.