What Is Gold Worth?
And do any other assets currently compare?
Jake VanKersen: Gold is thought of as a safe haven investment. So, in times of turbulence, like, say, the summer of 2020 when the pandemic was raging and investors were worried about the economy, the price of gold swelled to $2,000 an ounce. Why is gold thought of as a safe haven?
Kristoffer Inton: At Morningstar, we use five characteristics to judge an asset's quality as a safe haven. First, there should be a very liquid market for it. Second, it should also have a purpose other than a store of value. Third, it should be rare. Fourth, people should want it in the future. And finally, it shouldn't degrade over time.
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