The Intrinsic Value of Gold

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Gold as an investment is more prevalent as a currency than a commodity. The more gold that a country or an individual has, the more competent they are in terms of faring well with others. 

Though e-currency has become the popular choice, nothing beats the old-fashioned reliance on gold. Simply put, gold is valuable in itself, and though external factors may decrease its value, it still quite pricey. 

It is also a myth that if all the gold is mined it would lose its value. As explained by the Diamond-Water Paradox, gold will always remain valuable in spite of the clear value of other non-renewable resources. 

Then, the question is how are speculations accurate in determining the value imposed on gold? Is it purely based on a whim or on a serious deliberation from a consensus of countries? 

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