This is what happens when the federal reserve prints trillions and trillions of dollar$$$$$$$

well no shortage of idiots in the world

could be worse, they could be buying useless cryptos

oh wait

 

OK, how is that knowledge actionable by traders then?

 

Go long - don't use a stop.

 

Actually there is because it does have industrial use, and people use it as shiny jewelry to adorn themselves. So how does one wear a NFT of a rock?

 

So what is the intrinsic value? $100, $200? You should be able to give a value if gold does have intrinsic value right?

 

@christianhgross You want to say that gold has value because people like to wear it? Don’t you think it’s silly that people have hyped up one metal so much and that’s the only reason for its high price. People buy gold jewellery to flaunt their wealth. It is as vain as buying NFTs. Both have no or minimal value if people stop giving undue importance to it.

 

Gold has been a store of value for ever, mainly because we can't produce much of it compared to the existing stocks in circulation. It's rare, we can't chemically produce it and it doesn't deteriorate, so most of the gold we own has been melted ( and perhaps remelted ) a long time ago. If, for example, copper was suddenly the price of gold, chilean miners would flood the market in no time and copper would lose its value. We can't do that with gold.