Gold and other precious metals can provide a hedge against inflation from "summary" of The Little Book of Bull Moves in Bear Markets by Peter D. Schiff
Gold and other precious metals have long been recognized as a safe haven for investors seeking protection from the ravages of inflation. When inflation erodes the value of paper money, hard assets like gold tend to hold their value or even appreciate in price. This is because the supply of gold is relatively fixed, unlike fiat currency which can be endlessly printed by central banks. Historically, gold has proven to be a reliable store of value during times of economic uncertainty and currency devaluation. In times of crisis, investors often flock to gold as a safe haven, driving up its price. This inverse relationship between the value of gold and the strength of fiat currency makes gold an attractive hedge again...
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