Between Sep 2012 and Jul 2013 gold went from $1780 to $1210 (-32%).
Between Feb 2024 and today gold went from $2040 to $2950 (+45%).
That's a crazy amount of volatility you would never want as a currency. Can you imagine signing multi-year contracts denominated in that? Even monthly contracts! It would be madness.
Between Sep 2012 and Jul 2013 gold went from $1780 to $1210 (-32%).
Between Feb 2024 and today gold went from $2040 to $2950 (+45%).
That's a crazy amount of volatility you would never want as a currency. Can you imagine signing multi-year contracts denominated in that? Even monthly contracts! It would be madness.