3 ms·
Depends what culture you’re in. Work gold jewelry gives you a lot of social cache in India so it is worn all the time. Additionally it’s used as a mode to trans
by huytersd 3y ago
Depends what culture you’re in. Work gold jewelry gives you a lot of social cache in India so it is worn all the time. Additionally it’s used as a mode to transfer wealth across generations with jewelry giving mandated in the cultural milieu.
- defrost 3y agoThat's pretty much the point I made, if you're part of a culture that values gold then gold has percieved value .. otherwise it's not especially useful (in that other elements have similar properties and are cheaper to bulk source, with few applications that benefit uniquely from gold). 'Useful' being the pragmatic sense, food, shelter, clothing are neccesary, concrete and steel are useful, copper is useful, gold is (mainly) hoarded and shown off.
- huytersd 3y agoGold is somehow universally adored by humans. It’s not just the Indians, different, unconnected civilizations throughout history have given it a vaunted status in their society completely independently. Hence it is pragmatically a good store of value because it taps into a universal, instinctual appreciation for it.