Why is gold valuable? (1 Viewer)

[saintkev]

Why ?I have no use for it. Fort knox is stocked with gold? Why are diamonds worth money? If you think about it, both of them are replacable and are just rocks! I know this can turn the world upside down,....A diamond is a clear rock!? I mean ***? Is gold worth so much because it is shiny? This is weird because most of our worlds economy's are based on some useless metal,or clear rock.

 

[joshlaw1976]

b/c it is rare and purty

 

[fish321]

ooooo something shiny

 

[Severum]

Apes dig shiny things. Gold and diamonds have many industrial applications as well.

Watch or record 'Secrets of Gold' on HD Theater at midnight tonight.

 

[CT Saints Fan]

Yes, because they are shiny, but so is aluminum foil. Gold and diamonds are expensive moreso because they are both rare, hard to get to, and nobody's making any more.

 

[dtc]

Yes, because they are shiny, but so is aluminum foil. Gold and diamonds are expensive moreso because they are both rare, hard to get to, and nobody's making any more.

Or, because you and the rest have been convinced that they're rare and hard to get. Truth is, there's billions and kazillions of them. They come out of the ground if you dig in the right spot. Heck, there's more gold in Saudi Arabia than water.

 

[DCSaints_Fan]

Its rare, shiny, is a good conductor of a electricity, doesn't corrode like alot of other metals. Platinum is worth more, though (I think), and has the same qualities. Alot of the heavier metals are worth a good amount, simply because they are rare, and find use some where.

 

[Complex Kid]

Because it is part of the New Orleans Saints football teams color scheme that's why!

 

[DCSaints_Fan]

Or, because you and the rest have been convinced that they're rare and hard to get. Truth is, there's billions and kazillions of them. They come out of the ground if you dig in the right spot. Heck, there's more gold in Saudi Arabia than water.

No, gold is genuinely rare, unlike diamonds. We can even make more perfect diamonds than mother nature can, but they are still expensive because there is a public perception they should be. Women want to wear 2 months of a man's salary around their finger, just to show how rich their husband is.

 

[helofixer]

Its pretty much a myth about diamonds being rare.

Its a long read but point yer browser here if you are interested on how the De Beers cartel basically has almost a stranglehold monopoly on diamonds being released for sale, exploration and mining, and basically this cartel has controlled the price and supply of diamonds for a long long time.

http://www.theatlantic.com/doc/198202/diamond

 

[CT Saints Fan]

Its pretty much a myth about diamonds being rare.

Its a long read but point yer browser here if you are interested on how the De Beers cartel basically has almost a stranglehold monopoly on diamonds being released for sale, exploration and mining, and basically this cartel has controlled the price and supply of diamonds for a long long time.

http://www.theatlantic.com/doc/198202/diamond

True, but it is still a finite resource. We need more dinosaurs to die to make more carbon to squish.

 

[St. Widge]

True, but it is still a finite resource. We need more dinosaurs to die to make more carbon to squish.

You are also paying for craftsmanship for diamonds. It takes a skilled and therefore well paid craftsman to properly cut them. It also takes a long time to do it. Beyond that, the amount of jewelery quality diamond is low compared the the amount of diamond that is available. Still, the price is artificially high because DeBeers essentially has a monopoly.

In the end, gold and diamonds are expensive because people will pay that much for them. Really, it's just like anything else. Things cost what people will pay and they will pay more for rare things that are pretty.

Sadly, that is also true of gasoline, with the added problem that it is now a necessity for most people. The scary part is that we would all pay whatever it costs to buy gas. We complain, but in the end we have no choice and they really could charge whatever they want. The only limitation is at a certain price people couldn't buy enough of it to be profitable and they tend to stay very close to that line to make as much profit as possible.

 

[saintkev]

Oil fuels the world,has use,I get that. Even back in ancient times primitive people were attracted to "Gold and precious Metals" how did the Egyptians know how scarce gold was? And more importantly,Why did they give a ****?.

 

[TulsaSaint]

Oil fuels the world,has use,I get that. Even back in ancient times primitive people were attracted to "Gold and precious Metals" how did the Egyptians know how scarce gold was? And more importantly,Why did they give a ****?.

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Why ask why?

 

[AsaPW]

That movie Blood Diamond was great. Watch it.