Eli5: What makes metals (Gold, Silver, etc…) profitable? Isnt it just a piece of metal?
In: Economics
I believe it has to do with rarity. Diamonds are so rare because they are formed under very specific conditions in very specific places in the earth. In addition to this, creating synthetic diamonds is a harder thing to do because you would need to emulate the conditions it is created in naturally.
Materials that are harder to create (synthetic or not) would be found in lesser numbers. If there is less of something then the price of that object would be higher and it would be worth more, since it is harder to come across that object.
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