The Value of Gold
Recently I had a conversation with a friend, who asks me, “why is gold valuable? It is just a metal that people dig it up and bury it again underground. It is not income-generating. You can’t eat it or use it in any productive purpose. Then why do people buy it and invest in it?” I think he is right in that gold does not have much value as a productive asset. The value of gold, however, comes from it […]
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