This is The Takeaway from today’s Morning Brief, which you can <\/em><\/strong>sign up<\/em><\/strong> to receive in your inbox every morning along with:<\/em><\/strong><\/p>\n The stock market got a major roller-coaster ride this week, with the S&P 500 (^GSPC) falling 2.6% before clawing back gains on Friday.<\/p>\n But both bitcoin (BTC-USD) and gold (GC=F), the modern and traditional “stores of value,” had even wilder runs, falling around 20% and 7%, respectively.<\/p>\n Both, like stocks, got some of their gains back.<\/p>\n Those big numbers, especially for gold, highlight a truth investors are learning to reckon with: Stores of value just aren’t what they used to be. Particularly for gold, a millennia-old store of wealth, which is seeing its classical role upended by volatility.<\/p>\n\n In a sense, it’s positive \u2014 if you own gold. Prices are up for the week, sitting at just under $5,000. They’ve risen about 14% so far this year. And there’s a good chance we’ll see it rise more.<\/p>\n JPMorgan analysts, for instance, have doubled down on gold, forecasting demand from central banks and investors to push prices to $6,300 per ounce by the end of the year. That would mark a roughly 25% increase.<\/p>\n Read more: <\/em>Thinking of buying gold? Here’s what investors should watch for.<\/em><\/p>\n Geopolitical instability, the “debasement” of fiat currencies, and unresolved questions over debt loads have fueled gold’s historic rise. A weakened insert-your-asset-of-choice has encouraged investors to cling to hard assets.<\/p>\n Gains though they are, they reflect some wild, meme-stocky numbers that at least somewhat diminish gold’s utility as a place to park value. Because, as we all know, what goes up that fast can also go down that fast.<\/p>\n The crash earlier in the week punctuated what one expert described as a “breathtaking and profoundly scary” rise in precious metals.<\/p>\n The price action created charts that looked like they belonged to stocks. Analysts could explain the moves behind the volatility, but some investors decided to just wait it out.<\/p>\n Others, seizing the moment, both in the immediate sense and in our larger cultural shift toward casino-like amusements, bought the dip.<\/p>\n An uncomfortable idea surrounding safe-haven assets is to think about the economic and political conditions required for their success.<\/p>\n If you hold any crypto, though, you may not want to think too deeply about anything right now.<\/p>\n The comeback in stocks and gold’s staggering climb make for a painful contrast. Bitcoin prices fell as low as $61,000 on Thursday. And even with a recovery on Friday to $70,000, the top digital currency is down about 44% from its October peak.<\/p>\n<\/p><\/div>\n<\/div>\n<\/div>