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Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility.
Warren Buffett
It is true, I myself don't like holding it. The reason why people invest in equities or bonds is that the owning the former you become an owner of a productive business and the latter is used to finance various corporate projects and government expenses. Gold has no such trait.