Over the years, I have noticed a certain pattern when it comes to money and gold.
For example, my father bought a house 30 years ago for $20,000, and today that house is worth $200,000. If my father did not buy the house 30 years ago, and just stored the money in a zero interest account, he would not be able to buy that same house today for $20,000.
If he had stored the money into an interest based account, the stored money would have increased, but no way would it have increased enough to buy the same $200,000 house today.
Anyway, what I have noticed about gold is that my wife has some gold which she inherited 4 years ago where the value was estimated at $3,000. Today the same gold seems to be estimated at around $8,000, in just 4 years...
So why store money in a bank account, would it not be better to buy gold instead of storing money in an interest based account?
What am I overlooking? I get the feeling I am overlooking something, otherwise everyone would be buying gold like mad instead of sticking money into bank accounts.