Agree it doesn't generate wealth. It's explicitly a store of wealth.
Investment is a weird term because most people would consider keeping cash or cash equivalents (gold) to be investments, even if they don't generate wealth. Cash is also an opinion, in terms of the market.
Investment is a weird term because most people would consider keeping cash or cash equivalents (gold) to be investments, even if they don't generate wealth. Cash is also an opinion, in terms of the market.