Comment by mccorrinall

Only about 8% of the gold demand is from technology. The rest is used a speculation and for luxury goods which are only valuable because you expect someone to pay an equal amount of money or more than you did.

“Gold has two major shortcomings in that it is neither of much use nor productive. While gold does have some industrial and decorative purpose, the demand for these purposes is limited and unable to absorb the amount of new gold being mined. And if you own an ounce of gold for eternity, you still end up owning an ounce.” - Buffet

https://www.statista.com/statistics/299609/gold-demand-by-in...