Gold as an alternative payment and save haven against inflation

ancient times and still has high importance today. Technological
advancements in distributed ledger technology eliminate the
downsides of physical gold we were exposed to in the past. In this
article, we analyze the relationship between the gold price and
inflation and ask whether gold is suitable as an alternative means of
payment. Regarding the mentioned tokenization possibility, gold
fulfils all the functions to become a means of payment. We tested the
value storage capability of gold. This was tested by relating gold as a
protection against inflation to HICP in regression analyses and mean
comparisons. A total of six hypotheses were tested, of which three
could be rejected. The existing literature mainly focuses on testing
the correlation between gold and other assets to verify its safe haven
property. A part of this paper tests the regression relationship in
which the dependent variable is represented by gold, and the
independent variable is represented by inflation. Under this
methodology, we demonstrated that a stable, statistically significant
positive relationship exists when using log gold prices and log HICP
values.