Is gold a good investment?

This position holds that gold is a terrible investment. It argues gold does not grow like a company, pays no dividends or yield, and contributes nothing to economic growth, while its value is volatile and its monetary status rests on tradition rather than logic.

This position holds that gold is a great investment. It argues that gold preserves value against inflation, that it has served as a reliable store of value for over 4,000 years, and that its stability and durability will outlast every paper currency.

This position holds that gold is neither a good nor a bad investment in itself — it depends on circumstances. It argues that gold does well in some environments and poorly in others, the key determinant being real interest rates: gold tends to shine when bond yields turn negative.