Gold and silver have been regarded as an investor safe haven whenever the markets experience high volatility or uncertainty as investors scramble to reallocate their portfolios. These precious metals hold a strong track record for providing a reliable way to hedge against inflation.
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The gold standard is not currently used by any government. The US stopped using the gold standard in 1933 and abandoned the remnants of the system in 1971. Click on the video link below to learn how the gold standard has been completely replaced by fiat currency.