Buying Gold for MasterCard use

Hi there Coconuts,

I was thinking have you heard of Glint pay? It’s a pre paid card you can get and you can buy gold with it within the app. The idea is that gold doesn’t go down in value, but fiat money does.

I was wondering would coconut be able to create that you can buy gold so not to loose purchasing power? As post covid-19, and already we will see inflation, and deflation of fiat money.

Was wondering what people’s thoughts are?

Why? Glint seems like a gimmick and Coconut is an accounting app, not an investment platform or bank.
In my eyes, gold and other commodities are poor investments because they don’t provide an income, and worst still they cost you money with storage costs and insurance. There’s also an opportunity cost associated with investing in gold in that you could be earning better returns in cash or stocks.

The current rate of inflation is 0.7%, if you have a reasonable savings account you’ll be beating it anyway.

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