Gold is a metal that has long been used as currency. At one point, paper currency was backed by a gold reserve. That’s no longer the case, but gold is still seen as a store of wealth because it is a physical asset. In the digital world, things are different. Investors have taken to cryptocurrency Bitcoin (BTC +2.07%) as a store of wealth. Is that a good idea in light of recent divergent price moves in gold and Bitcoin?
Gold is rising and volatile
Geopolitical and economic concerns have investors on edge. Sure, the S&P 500 is trading near all-time highs, but that hasn’t stopped Wall Street from buying gold as a hedge against a market or economic crash. To be fair, gold has risen dramatically over the past year, though sometimes in a…
