The case against gold and why it’s wrong

Gold has had a ferocious rally over the last five years, skyrocketing over 170%. There’s a laundry list of reasons why, but the biggest driver may be a new era of geopolitical volatility and fragmentation incentivizing investors to buy the precious metal. Now add on worries about currency debasement, growth, inflation and irresponsible fiscal finances that haven’t been fully reflected in sovereign assets. It’s no wonder the precious metal has been a popular asset for investors during times of stress. Gold has averaged a return of 1.8% and a median of 3.0% during major geopolitical shocks, outperforming other asset classes.

https://privatebank.jpmorgan.com/nam/en/insights/markets-and-investing/tmt/the-case-against-gold-and-why-its-wrong