I agree with you from a yield perspective. Any asset class performs better from a dividend paying angle compared to gold or any metal. whether it protects wealth is dependent on what price it was bought at, etc. The same argument can be made investing in specs or big tech with no yield or profit.
The real gold stacker is not interested in the opportunity cost (lost) or expenses incurred holding physical. They are making their fiat from other means and diversifying. One just never know what the future lies. If you are from SE Asia or certain parts of Africa where conflicts is a way of life, gold=money, not even USD.
I am only interested in the direction of gold price through the miners so along the way I am both exposed or sidelined, whether this is better than LTBH is another discussion. In the LT, it is foolish to bet against equity markets. However GFC real estate bubble is still fresh in those that survived that crash era. Debt was always the issue.
How do you see the Chinese property developers implosion pan out? Usually going against all these headline stories is better fr objectivity.
