The United Nations Food and Agricultural Organization (FAO), which tracks the cost of food items globally, recently noted that levels of food-price inflation are rising at their highest rates in over a decade.
As the world faces more troublesome news about the continued spread of COVID-19, and whether lockdowns will happen again in your area or not, it appears they will be happening in enough parts of the world to most likely make a further economic impact.
But why Gold? Why would an individual or government want to hold Gold as a safety net for troubled times? You cannot eat Gold, in the same way you cannot eat currency, nor a stack of Treasury Bills. But Gold can help make sure you can eat later. Or in the case of government, can help ensure you can purchase whatever goods and services your populace may need later.
In the economic recesses of my mind, I recall a lecture by a university economics professor about “opportunity cost”. There is a cost to purchasing and owning something that goes beyond the purchase price.