Compare owning Gold to bank account savings.
Compare your current bank account savings over time with the fluctuating price of gold. While the price of gold does go up and down depending on numerous factors, we can see how it outperforms your bank account savings over time. Your bank account savings are being destroyed by inflation on a daily basis if the bank interest is lower than the inflation rate. This simple gold vs bank account savings comparison calculator will allow you to see how much inflation can reduce the purchasing power of your savings over time, even though you think you are getting richer because the nominal balance on your bank account is slightly increasing over time. When infact, your savings will actually purchase less than they would. Comparing your bank account savings to holding gold is the first step to increasing your wealth over time, knowledge is power.
While it’s impossible to predict the value of gold, it is possible to state, as inflation continues to increase, any savings you have in fiat will continue to become worth less, and you will be getting poorer without even realising it.