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> gold's use-value in tech and jewelery is a small fraction of gold's exchange-value According to Wikipedia: "The world consumption of new gold produced is abo
by throwaway-8c93 6y ago
> gold's use-value in tech and jewelery is a small fraction of gold's exchange-value
According to Wikipedia: "The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.".
Now, there are ETFs, futures, options, etc, that inflate the speculative portion, but the valuation due to physical properties is still likely within an order of magnitude of its total market value.
- keymone 6y agojewelery produced and stored is not necessarily jewelery used. jewelery inflates speculative portion as much if not more as other instruments you listed and if gold was stripped of it's exchange value, most of the jewelery in the world would be up for sale to recover at least some of the "investment" (even if that investment was inherited, which it is in vast majority of cases).