Gold is truly the safe haven that many imagine?
In his latest book, “Oro. Good refuge or trap?” mathematics professor Beppe Scienza addresses one of the most deeply rooted beliefs among Italian savers. And he does it with his unmistakable style: data in hand, no frills, zero indulgence towards commercial narratives.
Science starts from a simple point: gold is neither miraculous nor useless. It's a real good, right, but it is often presented as a universal solution to families' financial problems. And here the misunderstandings begin.
The book lines up, clearly that gold does not automatically protect against inflation. Historical data shows important fluctuations. Buying and selling is not free. Spread, commissions and margins of resellers certainly weigh. Italian taxation is not favorable.
A detail that many promoters carefully avoid remembering. Small savers do not access the most efficient channels. And they end up paying more.
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However, there is no shortage of strong points: gold is a physical asset, it does not depend on corporate balance sheets and maintains a role in central bank reserves. But this is not enough to make it a "simple" investment. The merit of the book is its practical usefulness.
Science doesn't just criticize: explains when gold can make sense and when it is just an emotional purchase, often driven by aggressive advertising or misdirected fears. For those who manage a family budget, the message is clear: gold can be a component, but not the solution to financial problems. And above all, it is not a substitute for serious planning.
A book that provides clarity in a sector where confusion is often desired. Useful, concrete, and above all independent: increasingly rare qualities when it comes to investments.
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Alex Gaetani