Eli5: Why is gold considered to be inherently valuable?

Question

I hear some economics arguing that currency should be pegged to gold as a way of ensuring that its value isn’t arbitrary / volatile but I don’t understand how this would solve the problem. I understand that gold is a scarce resource that is difficult to mine but is it this alone that gives it intrinsic value ?

In: 115

Answer 1

I don’t think you have to be a subscriber to access this (short) piece but I’m not sure.
https://www.newyorker.com/magazine/2004/11/29/why-gold