Finance 101? I doubt it. Finance 101 primarily covers macro-financial policies, not individual investing. From the Wharton course description for Finance 101: "The goal is to provide a unified framework for understanding macroeconomic events and policy, which govern the global economic environment of business. The course analyzes the determinants and behavior of employment, production, demand and profits; inflation, interest rates, asset prices, and wages; exchange rates and international flows of goods and assets; including the interaction of the real economy with monetary policy and the financial system."
In my experience and opinion, investing in physical gold is a fools game. Gold does not generate or provide income, dividends, or share splits; gold does not have intrinsic value; although gold is is used in the manufacturing of goods, there is no shortage of supply that drives the price. Rather, the price of gold as an investment is primarily driven by emotion - hype, fear, and uncertainty - which is part marketing strategy by the people who sell gold as an "investment."
No, Finance 101 because the flight of money from growth-yielding investments to hedges is very, very much a macroeconomic policy matter. But you’re sorta right, I guess.... although it’s very basic, they probably wouldn’t cover it for a few units.
And yes, gold is a foolish investment EXCEPT as a hedge. The point is that when everyone else is crashing and burning, you’ll have some cash to buy very cheap.
“investing in physical gold is a fools game.....gold does not have intrinsic value...”
Does physical gold have less intrinsic value than fiat currency?
If you think the USD will never collapse then don’t buy gold. If it ever does collapse I will make you dance like a little poodle in a tutu for a bit of my gold.