But clearly one more than the other, aluminum is extremely useful but not very rare and is worth about $1.25 per pound, it’s price is a fraction of gold at $63,000 per pound
you’re proving their point there… Gold has use and is rare which is why it is so highly valued. Aluminum has use and isn’t rare thus it’s worth less. You can even look at articles about how platinum is extremely undervalued due to this exact scenario. But lots of times, things are dictated by market conditions other than rarity as well, like tariffs and industry necessity.
That’s incorrect. Gold still has value because it has utility.
Do you think most of gold’s current trading value comes from it’s utility, or it’s rarity?
Both, if it was more common it would hold less value. If it served fewer purposes it wouldn’t remain valued.
But clearly one more than the other, aluminum is extremely useful but not very rare and is worth about $1.25 per pound, it’s price is a fraction of gold at $63,000 per pound
you’re proving their point there… Gold has use and is rare which is why it is so highly valued. Aluminum has use and isn’t rare thus it’s worth less. You can even look at articles about how platinum is extremely undervalued due to this exact scenario. But lots of times, things are dictated by market conditions other than rarity as well, like tariffs and industry necessity.
Yes the rarity is a bigger factor.