FT, I'd say the scarity of gold combined with it's physical qualities and appeal to most people are the reason. I never understood platinum. It's dull and people like shiny stuff.
I've heard that all the gold that has been mined thus far would fit into the space of a tennis court cubed.
I've heard something to that effect about the amount of gold mined. Was thinking about that before I read your comment. So when I venture into the cosmos in the far distant future, I should just leave my gold panning tools on mother earth. Damn, I feel cheated! I know how a diamond is formed, but never thought about the recipe for gold making. Wonder if there are still some alchemist out there who have cloaked their research for fear of being labeled 'flat earthers'?
Ron, the consensus of late is that elements so dense in neutrons can only be formed by events such as described at the APOD site for this image - Neutron stars colliding. Not going to make the stuff here. Actually, Given colliding neutron stars will eventually disperse their products in all directions, gold should be flying around all over the universe. As far as Diamonds, they say that the gravity of Neptune is so dense that it actually rains diamonds there. Hmmm. The APOD site today has an animated video of colliding neutron stars as it happens.
I recall a line from an old movie, think it was the "Garden of Evil" with Gary Cooper, Susan Hayworth, and Richard Widmark set in old Mexico in the late 1800's or early 1900's---the line was simple and to the point, "if the earth was made of gold, men would die for a handful of dirt". Read somewhere there is about 40 pounds of gold in every cubic mile of sea water. Damn, there's gold in them there waves.
Ron, I also read where there is mucho gold in the ocean. I believe I've seen it too. Little gold flakes reflecting sunlight as you wade in waist deep water. Hard to believe it is that hard to get. Seems like all you'd need is a substrate like brass and an electrical current just like they use to gold plate something in water.
Your dirt thing is so true. I've often said, if they could get cars to run on dirt imagine how expensive dirt would be.
One man's silver is another man's gold. My daughter's friend admired a bracelet I was wearing and asked what it was. I told her it was hematite (Fe2O3) the mineral form of iron oxide. No biggie, right, but when I told her it also naturally occurred on Mars hers eyes lit up. She thought that was even cooler than gold.
Mr Blade, This would be my expectation now with 30 octilion more ounces of gold floating around the universe. I'm selling all my gold holdings and putting the proceeds into Zinc.
Seriously though, my Elliot Wave advisors tell me gold is at a precarious juncture and could experience a deeper decline, possibly all the way into 2018 with the obligatory relief rallies.
It might be interestng to address the question "Why is GOLD more highly prized ghan –– let us say –– PLATINUM?"
ReplyDeleteCould it be based almost entirely on gold's aesthetic appeal and relative scarcity –– or are there other, more important factors in play?
FT, I'd say the scarity of gold combined with it's physical qualities and appeal to most people are the reason. I never understood platinum. It's dull and people like shiny stuff.
ReplyDeleteI've heard that all the gold that has been mined thus far would fit into the space of a tennis court cubed.
I've heard something to that effect about the amount of gold mined. Was thinking about that before I read your comment. So when I venture into the cosmos in the far distant future, I should just leave my gold panning tools on mother earth. Damn, I feel cheated! I know how a diamond is formed, but never thought about the recipe for gold making. Wonder if there are still some alchemist out there who have cloaked their research for fear of being labeled 'flat earthers'?
DeleteRon, the consensus of late is that elements so dense in neutrons can only be formed by events such as described at the APOD site for this image - Neutron stars colliding. Not going to make the stuff here. Actually, Given colliding neutron stars will eventually disperse their products in all directions, gold should be flying around all over the universe.
DeleteAs far as Diamonds, they say that the gravity of Neptune is so dense that it actually rains diamonds there. Hmmm.
The APOD site today has an animated video of colliding neutron stars as it happens.
I recall a line from an old movie, think it was the "Garden of Evil" with Gary Cooper, Susan Hayworth, and Richard Widmark set in old Mexico in the late 1800's or early 1900's---the line was simple and to the point, "if the earth was made of gold, men would die for a handful of dirt". Read somewhere there is about 40 pounds of gold in every cubic mile of sea water. Damn, there's gold in them there waves.
DeleteRon, I also read where there is mucho gold in the ocean. I believe I've seen it too. Little gold flakes reflecting sunlight as you wade in waist deep water. Hard to believe it is that hard to get. Seems like all you'd need is a substrate like brass and an electrical current just like they use to gold plate something in water.
DeleteYour dirt thing is so true. I've often said, if they could get cars to run on dirt imagine how expensive dirt would be.
One man's silver is another man's gold. My daughter's friend admired a bracelet I was wearing and asked what it was. I told her it was hematite (Fe2O3) the mineral form of iron oxide. No biggie, right, but when I told her it also naturally occurred on Mars hers eyes lit up. She thought that was even cooler than gold.
DeleteCube - Imagine the ignorance of people who want to go to Mars. It will be 400 years plus or more before there is pizza place there.
DeleteYes, but I bet there'll be a Starbucks long before that ;)
DeleteHa, True
DeleteI'm thinking the Hand of God placed a lot of that gold here for our enjoyment.
ReplyDeleteEd, I'd say we can assume the Hand of God has provided everything in our universe and perhaps beyond.
DeleteI just hope these two colliding neutron stars have managed to work things out. Gold futures down.
ReplyDeleteMr Blade, This would be my expectation now with 30 octilion more ounces of gold floating around the universe. I'm selling all my gold holdings and putting the proceeds into Zinc.
ReplyDeleteSeriously though, my Elliot Wave advisors tell me gold is at a precarious juncture and could experience a deeper decline, possibly all the way into 2018 with the obligatory relief rallies.
The gold in MY jewelry box came from friends and family who loved me! QUESTION SOLVED, right!?
ReplyDeleteZ, Yes, how short-sighted of me. :)
Delete