Saving in Gold Vs. Saving in Fiat Currency
- Thread starter nomad
- Start date
Any amount of money that you save in fiat is subject to depreciation. Gold would always surely appreciate. I prefer to save in Gold.
I have both. But mostly, I save in flat currency. I put the money in a bank account. I also make some investments. As for gold, I buy physical gold coins.
My mom has a lot of gold and when she had financial challenges that made her to sell one of her gold necklaces, she sold at double the price she bought it and that was after four years. I would pick gold over fiat.
Investing or saving in foreign currencies is also a good thing to do, especially if you live in a country whose economy tends to be really poor. But I would prefer trading in gold.
- Thread starter
- #13
A know a lot of people who invest in gold jewelry but investing in gold jewelry is not truly investing in gold and the value of gold jewelry is less than buying gold bars or biscuits
Gold is far much more volatile than cryptocurrencies in the long run. This proves that investing in gold could be really profitable due to volatility factor involved. However, this could also be a double edged sword as well.
