gold bug (redirected from Digital gold bugs)

Gold Bug

A person who believes that gold is still a stable source of wealth as it was during the years of the gold standard. Gold bugs invest in gold for financial security in the event of a stock market crash or currency devaluation. It also refers to analysts who recommend gold buys.

Notes:

Gold bugs incorrectly assume that gold is still as safe of an investment as it was in during the gold standard years. Although gold is widely known as a standard of value, it's price, like that of any other precious metal or commodity, fluctuates widely. For example, the price of gold declined from over $800/oz in the 1980s to under $350/oz in the 1990s.

See also: Bretton Woods Agreement, Bullion, Fool's Gold, Gold Standard, Precious Metals, Silver

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gold bug

An individual who thinks that investors should keep all or part of their assets in the form of gold. The tendency to recommend gold nearly always stems from the gold bug's expectation of rapid or uncontrolled growth of the money supply accompanied by high rates of inflation. Some gold bugs also predict economic collapse with gold becoming the standard of payment.