Jan
Gold surpass $900
I would like to know exactly what do we use GOLD for and why is it so valuable besides it looks shinny
Answer:
I am an economist and there are three uses for gold.
1) jewelry
2) There are some industrial uses.
3) As an alternative currency.
Gold, like diamonds are less useful than water, so water should be more valuable, but it isn't.
The price of anything is the measure of its "relative marginal scarcity."
So, while water is far more useful, it is also less scarce.
There can be three prices for anything in the world, positive, negative or zero.
An item or service with a positive price is called a good. An item with a negative price is called a bad, garbage and sewage are examples of bads where the owner pays money to be rid of it, and if a good is undesirable, then its price is zero. You may be able to give it away, or maybe not.
The price of all goods and services on the planet are a reflection of the changing preferences and needs of the people of the world. A purchase in one part of the world permanently alters prices planet wide, though the effect is often unmeasurable because it is so small.
All the gold in the world, including the gold not yet mined, would if taken to 100% purity, fit inside my house and my house isn't really that big. Gold is exceedingly rare. If gold didn't have such little use, its price would be astronomical like Saffron. It takes 50-75,000 flowers of Saffron to produce 1 pound of Saffron and sells for $500-$5000 per ounce, depending on quality. Saffron tastes good, gold does not. If it is desired and scarce its price will be high.
Answer:
its a form of currency, and can be traded in the market. Countries would use the "gold standard" which uses gold as the primary pricer of goods.
Answer:
Hi-
Well gold used to be the used to insure currencies i.e for every $1 printed x amount had to be held in a vault. Then a famous economist said gold was useless and economies don't need to hedge their currencies against gold.
So now I suppose the question is: Is gold useless or are currencies useless?
'cause every time there is uncertainties those "in the know" buy gold.
Gold has been valuable for centuries and is extremely limited in supply. They say all the gold in the world could fit into just over 7 double Decker buses.
Gold is used in jewelry and is very much in demand in emerging markets such as India and China. It is also used in coins such as Kruger rands and also electronics and by dentists. Gold is everywhere….
Buy Gold the long term trend should tell you so…
Answer:
For some odd reason people like gold jewelry. It is also used in the electronics industry because it does not corrode and is an excellent conductor of electricity. It is also used by many people as a store of value. That perhaps is its greatest use. Governments are continually known to devalue their currencies. In fact it is a universal government policy. By having ones assets gold based, it is a protection of ones assets against those government policies.
Answer:
Jewellery, micro chips, many metal products are gold plated for better heat resistant’s
Answer:
Gold is rare metal and since long time it is used for ornaments .Since this metal in normal condition do not wear and tear and not corroded. So people specially ladies used to wear it. Due to its pecular properties of ductility mealabilty ornaments can easily be made.thats why its so costly .
Since long time gold has high value and all Govts possess it to strenghthen there asset.
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