It is used in electronics a lot in the mobile phone industry alone in or around 400 million dollars worth of Gold is used per year (and rising).
It is an excellent conductor so just like Diamonds as well as being shiny and people liking them they do have practical industrial applications.
Even if some day a huge vein is discovered deep underground there are massive cost implications involved with extracting resources from deep underground MASSIVE cost implications which will stop any long term crash in the price all though it might cause a temporary panic.
The fact is as time moves on and the number of electronic devices people use on a day to day basis increase and get smaller gold will have a steady increase in demand.
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South Koreans Buying Up Physical Gold
It is used in electronics a lot in the mobile phone industry alone in or around 400 million dollars worth of Gold is used per year (and rising).
It is an excellent conductor so just like Diamonds as well as being shiny and people liking them they do have practical industrial applications.
Even if some day a huge vein is discovered deep underground there are massive cost implications involved with extracting resources from deep underground MASSIVE cost implications which will stop any long term crash in the price all though it might cause a temporary panic.
The fact is as time moves on and the number of electronic devices people use on a day to day basis increase and get smaller gold will have a steady increase in demand.