No. Gold is not a waste of time at any time because gold has many advantages that can make a person rich if invested wisely.
If you still the question like “is buying gold a waste of time?” then that depends on your investment strategy and other factors.
Let’s see if with advantages and disadvantages to conclude if buying gold is a waste of time or a valuable investment.
Why invest in gold?
- Act as a hedge against inflation.
- It can be a safe option for diversification
- The best option for long-term investment
- The historical value of gold increased
- Gold cannot go bankrupt, for sure.
Why you should not invest in gold?
- Physical storage of gold can be an issue
- Does not provide higher returns than stocks
- Interest or dividends cannot be earned
- It can be complex to invest in if you are a beginner.
- Banks do not back gold and it can be sold only to jewellers.
Thus, whether Buying Gold is a waste of time or not depends on several factors, but in the end, gold cannot be a waste of time since the historical data shows that gold provides good returns in the long term and is best when compared with fixed deposits.