Why Are People Buying Gold?

Q. I can’t remember the specific scriptures off the top of my head but I know it says in the Bible that gold and silver will be worthless so why is everyone buying it? Thank you for your time and thoughts.

A. Precious metals like silver and gold are purchased in times of financial uncertainty such as we’re experiencing now. It’s clear that the value of our currency is eroding and as that happens precious metals become relatively more valuable. For example in 2006 a person could have bought an ounce of gold for just over $600. They could sell it today for around $1300.

Although it sounds like a relatively quick and easy way to double your money, there are disadvantages to this. You can’t spend your gold on the things you need, so you have to buy it with money you can get along without until the situation stabilizes and it becomes safe to sell your gold for dollars. Therefore gold is only a good investment in times of temporary uncertainty for those who have more money than they need.

Also gold and silver will be of no value in our next life, so those who purchase it as a hedge against inflation on Earth will find it has not enriched them at all in Heaven. In fact in their preoccupation with building or protecting their Earthly treasure, they may discover they’ve neglected to build up treasure in heaven where it counts.

If you believe our time on Earth is drawing to a close then the purchase of precious metals to protect our Earthly treasure becomes less desirable. It’s better to spend the time we have left accumulating treasure in heaven (Matt. 6:19-21).

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