[waqasx]

all the things you are saying are just arguments for making gold a good medium of exchange, which it is no longer used for. not one of your arguments suggests that it is a good storage of value, which it used to be because of its scarcity. if indians stop paying doweries in gold and arabs stop finding its shininess alluring, the value will plummet. there is nothing intrinsic in gold that makes it valuable

Warren Buffett put it well. "Gold gets dug out of the ground in Africa, or someplace," he said. "Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head. Source:http://online.wsj.com/news/articles/SB1000142405274870403270...