why does gold have so much value now that it’s not propping any currencies?
In: Economics
It is not so much that gold’s calue is going up, but rather currencies are becoming less valuable over time due to inflation. As governments increase the amount of their currency in circulation, it devalues it. But since gold is a scarce resource that is universally considered to be money, it gains value compared to these devaluing currencies.
Outside of that basic concept, it also does have industrial uses, namely being a conductor in computer chips, that also puts buying pressure on it as well, thus contributing to its value increase over time.
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