New word I learnt. Crises is the plural of crisis.
So... what kind of troubles are gold and silver good for? I'll just use gold for the rest of this article, else I'll have to type "and silver" too many times.
Is gold always useful in a crisis?
I'll be talking about paper gold, ie, gold certificates, ETF, gold stored in a vault managed by another company.
and physical gold, gold which you physically own and/or have easy access to, ie, gold under your mattress, in a safety deposit box where you don't have to make much arrangement to withdraw.
Let's look at some scenarios.
1) Hyperinflation or Country Currency Crisis (Except major powers)
This is the most likely scenario in our world. This has happened to many countries. Venezuela, Argentina.
After wars, South Korea, Japan, Germany had high levels of inflation.
During the Asian Financial Crisis many Asian countries had their currencies weaken by large margins. Thailand, Indonesia....