Look at it as a commodity. If currencies undergo hyperinflation, commodities still have value no matter what the greater economy is doing. A barrel of oil will still be worth something. A bar of silver will be worth something. Currency at the same time will decrease in value. You could replace gold with whatever you want as long as there is demand for it. Gold has traditionally been a medium of exchange for thousands of years and it's the best understood by people.
Here is a link of gold prices: https://www.apmex.com/gold-price. If you look at the whole historical record (1992 on that chart), you can see gold rising and rising in value in USD. That can mean that either gold is rising in value or that the dollar is falling in value. One ounce of gold used to be worth $35.00. Now it's almost $2,000. Our currency has fallen greatly.
Look at it as a commodity. If currencies undergo hyperinflation, commodities still have value no matter what the greater economy is doing. A barrel of oil will still be worth something. A bar of silver will be worth something. Currency at the same time will decrease in value. You could replace gold with whatever you want as long as there is demand for it. Gold has traditionally been a medium of exchange for thousands of years and it's the best understood by people.
Here is a link of gold prices: https://www.apmex.com/gold-price. If you look at the whole historical record (1992 on that chart), you can see gold rising and rising in value in USD. That can mean that either gold is rising in value or that the dollar is falling in value. One ounce of gold used to be worth $35.00. Now it's almost $2,000. Our currency has fallen greatly.