You are right gold is not an investment instrument. Neither are currency notes. They are liquid assets that are a hedge against inflation and currency devaluation in the medium and long term.
In three years, my gold savings had appreciated by about 34 percent. i.e. 34k profit for every 1 lacs in gold. The appreciation in gold value was much better than dollar value appreciation in the same time period. I had bought dollar in 2019 at 160 and gold when the rate was about $1400 per ounce.
You have to time your gold investment right. Never buy when the gold price is at its peak. The best time to buy and hold gold is when it is trending at a lower price.
I have researched that gold biscuits have better returns than jewelry since they are sold at the current market rate. Selling jewelry at the desired rate requires some haggling. They are not sold at the market rate.
