Theoretically it's the same kinda risk as crypto. A person could discover a massive goldmine in the future and devalue your holdings. Realistically it's just as regulated to death and as controlled as the diamond industry if not more. Govts award gold mining contracts in exchange for some form of graft. As Hillary Clinton's brother did in haiti. You'll generally make money over time with gold and silver. It's a good place to hold your earnings in btw investments while you learn and earn. Rarely is the gold market volatile or profitable w/o a few years of holdings. What I've found helpful is thinking in percentages as opposed to total amount of cash on hand.