Gold is an interesting topic in itself. Gold has no intrinsic value other than the value people attach to it. There are elements and metals much rarer than gold such as Platinum and Palladium for example. Over the centuries people have been attracted to gold because it does not rust, it is a pretty yellow color, it can be melted easy and it is easy enough to make coins out of it. So why is it more expensive than Platinum and Palladium.
All the Platinum ever mined can fit into your living room! The problem is that the precious metal must be rare to have value but no so rare that you could not make enough coins to circulate...
So other than people being attracted to gold in the form of jewelry and coins and governments hoarding it, while it obviously has value, it is really not intrinsically valuable.
