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Originally Posted by biosurfer1
Isn't this the exact same argument for gold?
Do you actually know anyone who is buying gold to process it and make something with it? Or do they all just buy it in hope that someone will come along later and buy it at a higher price?
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I think most people look at gold as a flight to safety due to its relative stability. I wouldn't call gold a "speculative" asset. At the end of the day, gold is indeed a commodity - in electronics and such, and it's also heavily, heavily used in the jewelry industry (especially in places like India), so there is some utility there.
-Wayne