It often amuses me how so many people/nations see gold as such an important asset when it is most likely one of the most volatile forms of investing around.

Since the early 90's it's price has gone from the high $700's, dipped to about $190, then peaked at around $1900, and is now falling again and is now at $1277.

So, let's assume back in the early 90's you had a house worth $100,000 and, you had $100,000 in gold.

Your house would have steadily gained in value, experiencing a few peaks and dips and would be worth say $400,000 today. (many variables I know)

Your $100,000 in gold on the other hand, about 133 Oz dropped to around $25,000 by 2001, then peaked at about $253,000 in 2013, and is now back to about $170,000 today.

Add to this the fact that your house has earned you money along the way, either directly via rent, or indirectly by saving you rent, and your modest $100,000 house has left gold in it's tracks, yet so many worship the space it occupies.

I just don't get it.

Gold is portable.

It's value escalates in an emergency.

You can't eat it, it wont keep you warm at night. But it is shiny, and it does appeal to the simple mind of the Capitalist, and like capitalism itself. its all based on a delusion. So if you are deluded by the "value" of capitalism it entirely appropriate that you should be deluded by the "value" of GOLD!
Hassy a nice observation there, when the world runs out of resources, and there is nothing to eat, she'll be right mate, me gold will be worth a zillion dollars.

You can't eat it, it wont keep you warm at night.
Paul1405,
There are many, many, many lefties out there who are being afforded exactly what you said, all due to Gold. Because the wealth created by Gold Government can afford to keep people like yourself. So, whilst you technically can't eat Gold, you can have a nice cosy existence from cradle to grave because of it & all the other minerals dug up by those bad, bad white industrialists.

"There are many, many, many lefties out there who are being afforded exactly what you said, all due to Gold."
Indie, are you some kind of reverse alchemist, turning gold into useful labour. "wealth created by Gold". Wealth is not created by gold, wealth is created by the labour of the worker!
"Government can afford to keep people like yourself" and what gives you the idea government is keeping me, you know nothing of the sort. Not content with that rubbish you as per normal go on to play your race card, with reference to "white industrialists" is there any black industrialists, always seeing thing in terms of black and white.

Paul1405,
Cheers for letting me whenever I hit a nerve, it is in a way gratifying to realise I'm right.