> Gold takes a dump falling 1% *You can't buy fire insurance when your house is on fire. Insurance prices also skyrocket when everyone is freaking out about th

> Gold takes a dump falling 1% *You can't buy fire insurance when your house is on fire. Insurance prices also skyrocket when everyone is freaking out about the need to buy insurance.* And guess what you do when inflation hits hard and you need to pay for things? You sell your gold. It's happening in Sri Lanka[0], I'm sure its also happening else where across the developing and even in the developed world. Gold is still up 15% since before the pandemic in USD, in every other currency its up even more. If you're buying now you're buying as a hedge against whatever inflation will come in the future. Even in 1975 when inflation was at 9% gold prices collapsed by 30%!!! Unfortunately, you need to time markets to some extend to get the full benefit of any hedge since you necessarily only profit when someone else is willing to buy at a higher price. [0]: https://theprint.in/world/sri-lankans-selling-gold-amid-economic-crisis/909491/ https://theprint.in/world/sri-lankans-selling-gold-amid-econ... [1]: https://www.nytimes.com/1975/12/31/archives/gold-rush-in-us-didnt-plan-out-buyers-have-lost-as-much-as-30-on-in.html https://www.nytimes.com/1975/12/31/archives/gold-rush-in-us-...