Total nonsense. Gold and silver were used before fiat currency was invented. Fiat currency ran alongside metals for hundreds of year and was readily interchangeable for metal.
Since the USA defaulted on Breton Woods fiat has become dominant. It now seems to be US policy to devalue the US dollar, although why they need to work at this baffles me.
The US dollar closed at an all time low against money on Friday and I’m expecting it to fall even further next week.
So what value do you put on gold without citing a fiat currency?
Waiting for the impossible answer.
There is far more backing any of the major fiat currencies.
Gold has nothing backing it.
Did a blogger tell you otherwise? That nothing backs major fiat currencies? Shame on you for believing him.
All you do here is spread misinformation.
Oh you mean gold as in money. When was the last time you spent gold as money? You spend money as in Pounds every single day.
Money is for transactions. It is for moving wealth around.
Will you sell gold at the top? No. So what is the point? Nada.
Gold will be the value by itself, as it has been for thousands of years.
Gold has nothing backing it.
It doesn’t need anything backing it as it has intrinsic value on its own.
Fiat has nothing backing it.
You did not answer the question.
Your concepts are sophomoric.
True, because there isn’t/wasn’t enough metals to accommodate a rapidly expanding economy. You find the same sort of slavish devotion to metal holding back the economies in the 1930’s; without exception the earlier a country left the metals standard the sooner it began to recover.
(Also true in the old US West during the gold rush, where scrip began replacing gold because there just wasn’t enough to fuel the economy, at least until the Denver mint was established, allowing enough metal into local pockets to let the economy grow again.)
True fiat is dominant and will remain so.
“Default” is a pejorative.
My concepts have left me very well off indeed. Long may I keep them.
I expect my concepts will make me better of in the coming months as the dollar continues collapsing against real money:
You probably have no savings. LOL
Buy low sell high.
You won’t get that right.
If you only knew 
I do I do.
20x20x20x20x20
Hang on there Cochise. Doesn’t Kitco sell gold? Seems their “advice” is every bit as credible as anyone else trying to sell stuff.
Steve
Read beginning at the top of page 19 - Warren Buffett on gold.
Wealthy people, aka the rich, for the most part do not invest in gold, do not invest in cash (except for relatively short periods of time), do not invest in government bonds (except under rare circumstances). Instead they primarily invest in profit-producing businesses. If you read the above, you will understand why.
Exactly my view of the investment world.
Gold and silver were about 10% of my very mixed portfolio a few years ago. They are now 17% and I haven’t purchased any since 2023.
The US dollar has hit a new low against money this morning.
You won’t buy the bottom.
Question: do you take possession of the physical commodity, or are these “stocks”, like mining, etc.?
That is physical gold in my possession and a small amount is in a Zurich bank vault.
About 30% of my shares are in a variety of miners scattered all over the (safer) world.
Kind of moot question. It is hold until relieved. But what was 17% is now 30% more. And how often has the buying of stocks gone one beyond 2023?
The losses will be in pounds.
This is about a belief system. Bloggers galore all over it.
The quality of sources are generally crap.
But why compare the gold to the dollar? When deciding where to invest, the decision ISN’T gold versus dollar, it’s gold versus “shares of businesses that produce a profit”. Because, and I repeat, cash is only a temporary place to keep wealth until the capital can be allocated efficiently (i.e. where you think it will produce the best return). Your comparison should be gold versus the other productive investments you may have chosen.
For some people “other productive investments” can be as simple as a low-cost index fund. So, for example, you could compare to the S&P500 index (or similar).
I don’t see gold as an investment, it is a type of money or an asset that produces no income. It has (almost) no counter-party risk and is a great insurance in these uncertain times.
Since the USA’s second default in 1971 the world has been on an fiat money experiment the like of which we have never seen before. I don’t believe that it will end well.