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Most of mined Gold is used as an investment vehicle or to make jewelry. Source: https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share

Most of mined Gold is used as an investment vehicle or to make jewelry. Source: https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/ https://www.statista.com/statistics/299609/gold-demand-by-in...

samwillis 5y ago
But that 46% used for “investment” can still be used for something tangible at a later date and so has something other than speculation setting it’s price. Frankly I was pleasantly surprised it was only 46% used for investment.
- vmception 5y ago
  there are multiple generations of people at this point who don't draw the line of utility at “tangible” now that population has irrevocable possession as well, which still doesnt exist for digital tradable goods outside of this system, and all those people can use their digital property for multiple things too even if it only does any one of those multiple thing moderately well, instead of anything exceedingly well, thats still value. it relies on cognitive negligence to make a separate higher standard for this, that could not apply to any asset under supply and demand pressure.
grzm 5y ago
https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/ https://www.statista.com/statistics/299609/gold-demand-by-in... Thanks for the link! Investment. 46.64% Jewelry. 36.83% Central banks. 8.58% Technology. 7.95% According to the stats you shared, less than 10% is used by central banks (currency), about 37% in jewelry, and about 47% for investment. I don’t think it’s fair to lump in jewelry with currency and investments. Much of the discussion I hear argued around cryptocurrency is in comparison to fiat currency. Investments are something again different in my opinion, though I might be convinced otherwise if I saw the those making the comparisons to, say, gold, and making cogent, nuanced points.

samwillis 5y ago

But that 46% used for “investment” can still be used for something tangible at a later date and so has something other than speculation setting it’s price. Frankly I was pleasantly surprised it was only 46% used for investment.

vmception 5y ago
there are multiple generations of people at this point who don't draw the line of utility at “tangible” now that population has irrevocable possession as well, which still doesnt exist for digital tradable goods outside of this system, and all those people can use their digital property for multiple things too even if it only does any one of those multiple thing moderately well, instead of anything exceedingly well, thats still value. it relies on cognitive negligence to make a separate higher standard for this, that could not apply to any asset under supply and demand pressure.

grzm 5y ago

https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/ https://www.statista.com/statistics/299609/gold-demand-by-in... Thanks for the link! Investment. 46.64% Jewelry. 36.83% Central banks. 8.58% Technology. 7.95% According to the stats you shared, less than 10% is used by central banks (currency), about 37% in jewelry, and about 47% for investment. I don’t think it’s fair to lump in jewelry with currency and investments. Much of the discussion I hear argued around cryptocurrency is in comparison to fiat currency. Investments are something again different in my opinion, though I might be convinced otherwise if I saw the those making the comparisons to, say, gold, and making cogent, nuanced points.