I know people out there who have invested a lot in gold under the belief that in the event of like complete societal collapse or hyperinflation, they could use it for purchasing.
I have the hunch it’s a scam, but I haven’t learned enough monetary theory, business, or economics to understand why.
Gold as a long term investment isn’t great unless it’s one small part of your strategy. This is largely because the value of gold isn’t just going up and up like with other possibilities out there. In the event of a societal collapse people are going to be bartering with food or useful items, not gold.