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Pretty common in India to buy gold coins and gold bars as an investment.
Looking at 2011-2020, gold has had a U shaped price. It’s highs in 2011 and 2020 was ~$1,900 and~$2,000. That’s ~5% return. Gold is somewhere you park your cash as a hedge to protect from inflation/market crashes. It’s an asset that doesn’t produce any dividends or interest and cost to store.
Tell me how gold isn’t commonly considered a hedge against the value of the dollar?