Lee Duna@lemmy.nz to World News@lemmy.worldEnglish · 20 hours agoAs Gold Hits New Record, Some See Warning Signs of Civilizational Collapsewww.newsweek.comexternal-linkmessage-square141fedilinkarrow-up1295arrow-down117
arrow-up1278arrow-down1external-linkAs Gold Hits New Record, Some See Warning Signs of Civilizational Collapsewww.newsweek.comLee Duna@lemmy.nz to World News@lemmy.worldEnglish · 20 hours agomessage-square141fedilink
minus-squareQuoVadisHomines@sh.itjust.workslinkfedilinkEnglisharrow-up4·5 hours agoThat’s incorrect. Gold still has value because it has utility.
minus-squarewhotookkarl@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up1·5 hours agoDo you think most of gold’s current trading value comes from it’s utility, or it’s rarity?
minus-squareQuoVadisHomines@sh.itjust.workslinkfedilinkEnglisharrow-up3·4 hours agoBoth, if it was more common it would hold less value. If it served fewer purposes it wouldn’t remain valued.
minus-squarewhotookkarl@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up2·4 hours agoBut clearly one more than the other, aluminum is extremely useful but not very rare and is worth about $1.25 per pound, it’s price is a fraction of gold at $63,000 per pound
minus-squareQuoVadisHomines@sh.itjust.workslinkfedilinkEnglisharrow-up2·4 hours agoYes the rarity is a bigger factor.
That’s incorrect. Gold still has value because it has utility.
Do you think most of gold’s current trading value comes from it’s utility, or it’s rarity?
Both, if it was more common it would hold less value. If it served fewer purposes it wouldn’t remain valued.
But clearly one more than the other, aluminum is extremely useful but not very rare and is worth about $1.25 per pound, it’s price is a fraction of gold at $63,000 per pound
Yes the rarity is a bigger factor.