why does gold have so much value now that it’s not propping any currencies?
In: Economics
Because people want to own it. Gold does have some intrinsic value – people use it for jewelry and electronics and stuff. But most of the movement in the overall price of gold is due to demand from investors. People want to buy gold because it is an extremely safe long-term wealth storage prospect. Gold that you buy now will not necessarily be worth more in 10 years, like some other investments, but it is guaranteed that it will be worth *something* because of the nature of gold. So people often buy gold when other investments look very risky and they’re worried about the future.
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