Bull case No. 1: Gold is money and a store of value
Buy gold for this purpose, says Edward Coyne, managing director for global sales at Sprott Asset Management. Others will also buy for the same reason, pushing the price up for you. This one is easy to dispense with.
If you bought gold at $850 in January 1980, you were down 70% by August 1999 when gold traded at $255. What’s more, the S&P 500 index advanced more than 1,100% during the same time, so the opportunity cost was eye-watering. If that’s your idea of a store of value, then you might as well overpay for Furbies on eBay to “store” your wealth.
Gold bugs push back by saying that while gold fluctuates in the short term, it really does hold value over hundreds and thousands of years. True, but who really cares? In the long run we are all dead, as John Maynard Keynes once quipped. Until scientists develop gene editing enough to lengthen lifespans by a few hundred years (which is possible), gold’s record of holding value over centuries is meaningless.
And now for 2022. I'm sure that this year will be much better for gold stocks...
https://www.marketwatch.com/story/gold-will-disappoint-investors-in-2021-heres-why-the-bulls-arguments-dont-hold-up-11607976425