Comment: From a technicality standpoint, he's correct on it being a

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In reply to comment: My same thoughts exactly! (see in situ)

From a technicality standpoint, he's correct on it being a

stupid investment.

One does not invest in gold.

One either uses it for savings and for money, or one speculates on it's market value fluctuations, but you can NOT invest in gold.

You CAN invest in mining companies though.

The difference there is understanding what "investing" is.

But while Ramsey is correct on the technicality of what the word means, I'm sure he thinks even buying physical as an inflation hedge is stupid.