Gold is valuable because of its rarity. There are three Olympic-sized pools of gold in the world. In addition to being a store of wealth, gold is also highly durable and has the ability to resist corrosion and tarnish. Its durability has allowed gold to be useful in many industries, including the construction of structures and generation of electricity.
Gold is a good way to diversify portfolios. The asset does not suffer from inflation so it can appreciate in value even if stocks are down. Gold is also a liquid commodity that can rise in value during times of crisis. Most finance professionals recommend investing anywhere from 5% to 10% of your portfolio. Gold can be expensive so it is important to think about your financial goals and make an investment.
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