Lee Duna@lemmy.nz to World News@lemmy.worldEnglish · 16 hours agoAs Gold Hits New Record, Some See Warning Signs of Civilizational Collapsewww.newsweek.comexternal-linkmessage-square118fedilinkarrow-up1262arrow-down115
arrow-up1247arrow-down1external-linkAs Gold Hits New Record, Some See Warning Signs of Civilizational Collapsewww.newsweek.comLee Duna@lemmy.nz to World News@lemmy.worldEnglish · 16 hours agomessage-square118fedilink
minus-squareprole@lemmy.blahaj.zonelinkfedilinkEnglisharrow-up13arrow-down3·5 hours agoNo it doesn’t. Not anymore. Not beyond its industrial uses, at least.
minus-squareQuoVadisHomines@sh.itjust.workslinkfedilinkEnglisharrow-up2·1 hour agoThat’s incorrect. Gold still has value because it has utility.
minus-squarewhotookkarl@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up1·36 minutes agoDo you think most of gold’s current trading value comes from it’s utility, or it’s rarity?
minus-squareQuoVadisHomines@sh.itjust.workslinkfedilinkEnglisharrow-up1·30 minutes agoBoth, if it was more common it would hold less value. If it served fewer purposes it wouldn’t remain valued.
minus-squarewhotookkarl@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up1·26 minutes agoBut clearly one more than the other, aluminum is extremely useful but not very rare and is worth about $1.25 per pound, it’s price is a fraction of gold at $63,000 per pound
minus-squareQuoVadisHomines@sh.itjust.workslinkfedilinkEnglisharrow-up1·55 seconds agoYes the rarity is a bigger factor.
No it doesn’t. Not anymore.
Not beyond its industrial uses, at least.
That’s incorrect. Gold still has value because it has utility.
Do you think most of gold’s current trading value comes from it’s utility, or it’s rarity?
Both, if it was more common it would hold less value. If it served fewer purposes it wouldn’t remain valued.
But clearly one more than the other, aluminum is extremely useful but not very rare and is worth about $1.25 per pound, it’s price is a fraction of gold at $63,000 per pound
Yes the rarity is a bigger factor.