(Kitco News) – Gold has a long and storied history as a reliable store of wealth during times of economic strife, and according to an analysis of the yellow metal’s largest price runs over the past 50 years, “The market now finds itself in a longer-lasting gold run than any since the U.S. fully abandoned the gold standard in August 1971.”
“Gold possesses several critical qualities that have solidified its reputation as a wise hedge against instability,” said Brad Chastain, director of education at U.S. Money Reserve. “Gold’s conductivity, corrosion resistance, and malleability give it intrinsic value, particularly in electronics.
As a physical asset, gold has no counterparty risk, making it safer than some other financial instruments reliant on issuers or other parties.”
Chastain said these attributes have become more relevant to consumers in recent years amid an uptick in political turmoil, trade wars, the COVID pandemic, and inflation, which has helped boost the price of gold as demand increased.
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