You might have heard that “All that glitters is not GOLD” or for that matter 24 Karat Gold but sometimes it’s the GOLD that betrays you. Investing in Gold appears to be a bright idea but knowing the insights would make you understand the thing much better.
Gold Is Useless
The biggest flaw of this metal is its yellow color. Almost two third of the jewelry in the world is made up of gold. Other than jewelry, use of gold is mostly in dentistry, electronics, and some other application that involve not more than 5% of Gold usage. While other precious metals like copper are just been limited to their usage at industry. Silver, platinum, and palladium, all are of much importance and find applications in catalytic converters and electronic.
One thing the people are mad about is the fluctuating rate of gold in any of it’s Karat / Carat rating either 9 Carat, 14 Carat, 18 Carat or 24 Carat Gold. Actually United States dollar was backed by gold. The reason is that all major currencies had their value pegged to gold. Its pegging that’s working, not the gold.
Other metals are just limited to industrial usage. That would really mean that a country’s economy is situated somewhere in physical piles of gold. What is the use of that gold that is just kept in the bank vaults? Fiat money, being totally useless outside the context of a monetary system, is an ideal thing for banks to hold in reserve. Clashes between gold-as-money and gold-as-commodity just encourage people for the smuggling of gold.
Not really a Value
Gold has no set value and is simply a tie to the currency. The article contrasts this with stocks, which it considers preferable due to their dividends, earnings, and cash flow. Well, this point is also easy to refute: right now, the majority of stocks are losing money. Perhaps those stocks are “easier to value” due to their dividends, but this is having zero effect on whether or not they are good investments, and it would seem that gold is currently the investment with the greater pay-off.
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