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by smt88 1686 days ago
It's not my interpretation. It's the definition used by everyone in finance and accounting.

https://www.investopedia.com/terms/h/hard_asset.asp

Intangible assets cannot be "hard".

Also, gold is not just a shiny rock. It can be made into electronic components, food, art, jewelry, and a huge variety of industrially-useful alloys.