Comment Re:California also legalized using polished turds (Score 2) 162
Were it not for the 60% usage in China and India to fulfill their local traditional needs for family treasures, gold would plummet to a third of its current price. The price of gold is very volatile, much more than any currency. You can compare the prices for platinum with the prices for gold for the last 20 years. Both metals are quite similar: Main use is jewelry, with some usage in the electronics or as catalyst, the frequency of occurrence is about the same (0.004 ppm vs. 0.005 ppm in the Earth crust), and still the prices of both metals are not parallel, but swing hugely into both direction (up to three times the price for one vs. the other).
Taken all things together, gold makes for a horrible currency.