Buying Gold as a Hedge

Cash In A Mattress? No, Gold In The Closet.

With prices setting new records, the worried wealthy are piling up ingots in home safes. NEWSWEEK goes shopping for precious metal.

A hundred-ounce gold bar, when you hold it in your hand, is surprisingly small and even more surprisingly heavy. It’s somewhat longer and fatter than a Hershey bar, but it weighs six-plus pounds—as much as your old calculus textbook. Its color is unforgettable. Pure gold is gold. It’s not like your wedding ring or your grandmother’s bracelet. It’s a deep, dense yellow, the way the ocean is deep blue, and it sparkles. You can understand at last why the Bible says the streets of heaven are paved with it.