Gold has monetary utility, value as a store of value, besides being useful because of its shininess. Moldbug puts it better than I can in this comment, take a

Gold has monetary utility, value as a store of value, besides being useful because of its shininess. Moldbug puts it better than I can in this comment, take a look here http://unqualified-reservations.blogspot.in/2011/04/on-monetary-restandardization.html http://unqualified-reservations.blogspot.in/2011/04/on-monet...