Is it a good idea to save money in gold?

While the price of gold may be volatile in the short term, it has always maintained its value over the long term. Over the years, it has served as a hedge against inflation and the erosion of major currencies, making Investment in Gold worth considering. Gold could be much more efficient than cash for storing wealth. Interest rates remain low, meaning that your money in the bank “generates practically nothing,” CNN Money reports, making Investment in Gold an attractive option. If inflation is taken into account, that cash may have lost value.

The choice here is clear: it would take about half a year for the cost of investing in the first option to recover, considering the average compound annual growth rate of 10% over a 30-year period, while our investment in SGB begins to generate returns the same year we bought it. Saving money with gold gives you the security of a “savings account” and the ability to earn investment gains without the attendant investment “risks”. Below are 3 reasons why saving money with gold makes more sense than putting money in a savings account. Therefore, gold in the form of GBS is more lucrative as an investment option than traditional forms of gold and can help you save when investing in gold.

Another reason it's smarter to save money with gold instead of putting money in a bank account is that gold is portable.