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Gold is "barely useful"? See http://en.wikipedia.org/wiki/Gold#Use_and_applications http://en.wikipedia.org/wiki/Gold#Use_and_applications , especially "Indust
by cbr 15y ago
Gold is "barely useful"? See http://en.wikipedia.org/wiki/Gold#Use_and_applications http://en.wikipedia.org/wiki/Gold#Use_and_applications , especially "Industry".
You are right that the price of gold is far higher than it would be if people weren't using it for investing, though.
- zerostar07 15y ago"The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry." If the value of gold was determined by industrial demand only, it would be a fraction of what it is now.