Gold price vs gold value - Explained! Watch the video & let us know your thoughts in the comments! | → Get FREE GOLD coin when opening a Gold IRA: 👉 https://geni.us/FreeGoldGuide
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First off, keep in mind that the price of the physical metal is not the same as its value.
After all, an ounce of gold has been and always will be an ounce of gold.
And you can buy pretty much the same amount of goods with an ounce of this precious metal today that you could back in 1900.
As one common story goes, back then, you could buy a nice suit.
And in 2023, you can still buy a nice suit for that same ounce of gold (and throw in a tie, a shirt, and a new pair of shoes) – 123 years later!
Rather than its value, what changes is its relationship to money, whether that be in dollars, euros, pounds, or yen.
For example, since 1900, the US dollar has lost 97% of its purchasing power, while gold has increased 90 times in value.
Or, in other terms, what cost $1 in 1900 now costs $35.67, while an ounce of gold is now worth over $1823, up from $20.67 in 1900.
This inverse relationship between price and value makes gold an excellent hedge against inflation and rising prices.
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