Golds utility as a currency is that it doesn’t tarnish or rust meaning you can keep it around for a long time and use it as an in-between unlike say food, it’s also generally lighter than cloth, manufactured goods, or raw materials. Same generally applies to silver, copper, and copper alloys, though to a lesser extent for copper and it’s derivatives though thats made up for by its recycling capacity and utilities.
not really. IMHO gold is about as useful as aluminum or any other metal, i.e. $10/kg would be justified, but not $70k/kg, which it currently is.
like, $10/kg is real usefulness, the remaining $69990/kg are people’s irrational belief that gold is valuable somehow.
Golds utility as a currency is that it doesn’t tarnish or rust meaning you can keep it around for a long time and use it as an in-between unlike say food, it’s also generally lighter than cloth, manufactured goods, or raw materials. Same generally applies to silver, copper, and copper alloys, though to a lesser extent for copper and it’s derivatives though thats made up for by its recycling capacity and utilities.