Argentine Gold: competitive store of value against the dollar
In the last 30 yearshe profitability calculation that arises from the comparison between the prices of the Argentine Gold against foreign currency it is far superior. As of January 1, 1993the value of the national currency was $77.79 while that of the dollar was $1.
Ten years later, in 2003, the Argentine Gold price was $269.54 while the foreign currency was $3.34. In 2013, the evolution followed the same trend: $1,909.37 for the currency tied to mineral gold compared to $4.94 for the dollar. Finally, the price published on first day of this year2023, indicates that the Argentine Gold it costs $74,910.21 compared to $178.10 in the official dollar.
In the case of becoming relevant the option to save in Argentine Gold, the idea would not be to mint or print said currency, but that the BCRA issue a certificate of possession guaranteed with a gold reserve and is expressed in new savings accounts that can be opened in all entities of the financial system. In this way, when it is decided to abandon said investment, its equivalent in pesos guaranteed by the BCRA would be returned.
Source: Ambito
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