Do you have any idea how much effort goes into propping up the price of gold? More than diamonds I expect.

Suffice it to say that more gold has been found in the last ten years than in all of history added together. That means big supply. And gold has so little application outside of consumer jewellery (low demand) that it takes considerable efforts of the Central Banks not to send the price of gold crashing down to mere pennies with their ongoing plans to divest of gold reserves. It has taken decades for the world's central banks to reduce their gold reserves without sending the price into a downward spiral.

The weakness of gold pricing in the face of face years of war in the Middle East ought to tell you all that gold's traditional value 'reserve' value is long gone now.

The value of gold is as trustworthy and as artificial as fiat money.