Don't listen to those crypto Bitcoiners who tell you Gold is useless metal. Gold is used as jewelry, within microprocessors, and as a means of storing wealth. Last I checked, you can't wear Bitcoin as bling to your friends weekend Soiree ... With the advent of faster computers/robots/ AI that we will see in this decade, I foresee Gold's usefulness increasing significantly while also increasing in price as a hedge against inflation.
With the likes of AOS and the Squad pushing UBI we should see inflation around 3-4 % in the next few years. Imagine a gallon of milk costing $20 dollars. That day is not far away at all.
I am long Gold in this unlimited money printing economic state we are in until businesses start to innovate and expand the economy via new industries.
Currently, we are in a copy cat economic state. The same boring played out companies and played out ideas. Innovation and real expansion of the economy in a practical everyday sense will send the price of Gold straight down, but I believe we are years away from this. The economy is significantly over-inflated due to unlimited QE, and with earnings significantly lagging valuations, fundamentals are starting to come into play, and smart money is being funneled out of major equities across the board.
My bet is that banks and billionaires are going long Gold for the foreseeable future. Innovation will come after the equity bubble pops, and real pain is felt on main street. It will be devastating just like we saw during the Great Depression, but as a historian, I also look back to our forefathers in ancient Rome. Rome had booms and bust, peaks and valleys within its history. America is more or less modern-day Rome. We are an empire that needs to break down before we can morph into something better within the next 80 years leading up to the 2100s. I foresee that we will see great despair and exchange of money from smart money sellers to dumb money buyers. It is the nature of the beast we call the financial system. It will collapse, and out of the smoke, ash and rubble will be something new, greater, unique, and long-lasting. God bless the empire of America.