Gold is outperforming the Nasdaq 100 since the launch of ChatGPT

The irony is that gold is entirely useless in a virtual & robotic economy.

I didn't see the article as implying a virtual and robotic economy is why people are hedging with gold.

Unless I misunderstood, they're saying gold investing is a hedge against societal collapse, and making the observation that as tech continues it's bull run, belief that we're headed for a cyberpunk dystopia is also increasing and thus the correlation.

Interestingly there was an article a few years ago showing how bitcoin (thought by some to be a similar hedge to gold) was trading just like a tech stock. While I don't buy it, this is one possible interpretation.

See https://www.nytimes.com/2022/05/11/technology/bitcoin-price-...

If society collapses then the people w/ gold vouchers & certificates will have to figure out how to get their gold out of the vaults that are owned & operated by the people who sold them those vouchers & certificates. I don't buy the collapse narrative, I think it's fake & people are buying gold for the same reason they buy other kinds of speculative assets, they think they will be able to sell the vouchers for a higher price at a later date. Which might be true given how bad inflation is getting but that doesn't mean their dollars are going to have any better purchasing power at the newly inflated prices.