Is gold still considered to be a store of value in the world of banking?

  1. Anjili profile image82
    Anjiliposted 6 years ago

    Is gold still considered to be a store of value in the world of banking?

  2. jbosh1972 profile image95
    jbosh1972posted 6 years ago

    I know it is still traded.  The thing is though, outside of jewelry, this metal has few uses. Besides it fluctuates so much. So even if you stockpiled it, you still have to sell it to reap the value of it.

      I would much rather have money in metals and raw materials that have many uses.  They will be easier to sell.  Examples would be copper, silver or bronze.  Another option it to invest in useful equipment that has little depreciation. Some examples being shop tools or laboratory equipment.  If you initially buy these used you not only stand the chance of breaking even, you may turn a profit!

 
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