Gold is a scarce commodity, so there is no doubt that it has intrinsic value. But even if it wasn't as rare as sand or manure, it still had intrinsic value, just far less than it does today. The question I asked was what percentage of the price of gold reflects its intrinsic value and what percentage does not.
As gold is a monetary asset, it has value beyond its intrinsic value. In other words, even if gold didn't play a significant financial role and wasn't as liquid as the S&P 500, would it still be worth around $2,000 an ounce?
XAUUSD BUY 1952 - 1954
✅ TP1: 1957
✅ TP2: 1962
✅ TP2: 1967
❌ SL: 1947
As gold is a monetary asset, it has value beyond its intrinsic value. In other words, even if gold didn't play a significant financial role and wasn't as liquid as the S&P 500, would it still be worth around $2,000 an ounce?
XAUUSD BUY 1952 - 1954
✅ TP1: 1957
✅ TP2: 1962
✅ TP2: 1967
❌ SL: 1947
