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Vicente
@
2012 Feb 7, 7:57am
Vicente
@
2012 Feb 7, 7:57am
My investing gains 85% in the last 2 years:
January 2010: 1.0
January 2012: 1.85
Gold for comparison 42%
January 2010: ~$1,120
January 2012: ~$1,600
Plenty of sharpies & connected players that did WAY better. And I'm sure there's PM futures & options players that did better than that. However I'm still not seeing "magic" here if you are just some person buying a few bars and stashing them in a safe.
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I'm sure this has been discussed here before, but I haven't found a good explanation. Anyone care to explain why gold is considered to be some universal store of wealth?
The best I have dug up is the "durable, limited quantity, limited production" argument. OK, so why not tellurium? It's as rare as platinum, relatively durable, and also has limited production.
We could play the "why not x" game for a while, but maybe more to the point is that gold doesn't seem to have much intrinsic value. Aside from being shiny (jewelry) and having some limited industrial uses, it doesn't seem all that useful. Why is it so valued?