Is Gold no more the Inflation hedge

In recent years when inflation has hit its all-time high since 2008, gold has declined by over 15% internationally.

consumer price index

Is it enough to believe that gold is no more the so-called hedge against inflation?

The answer goes beyond the short-term movement relation which can be seen in recent years. Though gold is believed to be an inflation hedge, the impact is observed over the long term rather than a shorter period of say, 1 year. 

Recently few crypto investors and strong opposers of fiat currency have found the inflation hedge solution in cryptocurrencies.

Though Bank Of America announced the forecast of $3,000 within 18 months post the $2000 mark last year, the reality would be interesting to watch.

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