faucon.
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its kind of materialistic thinking. you can't use gold for almost anything but you can use oil. why? people always want things others dun have. so gold is precious because it is scarce. if oil was scarce it would be precious. |
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ashish_trambadia
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Oil: Entity with demand and supply as parameters.
Gold: Direct indicator of willingness to pay without need.
Meaning, Gold is never puchased for "need" while oil is always purchased for "need". price of gold are in direct ratio of global economic situation. Oil price is based on scarcity... gold is not anywhere in proportion to its availability. |
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?
 |
It costs more to produce an ounce of pure gold than a barrel of light sweet crude (supply), and the quantities demanded of gold and oil each support their respective price level. |
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j t
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Because gold can be draped on bodies and things that are not so easily obtainable are always expensive. And oil consumed makes one FAT. :) |
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big b
 |
u cant drape urself in oil |
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4XTrader
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Fenris is correct. For example, I remember reading not too long ago that the U.S. has just discovered that there maybe somewhere along the lines of 130+ years worth of crude oil in the region of the Rockies (something like 2 or 4 trillion barrels worth). In Iraq, the unexplored areas of Iraq may hold reserves that would rival or exceed that of Saudi Arabia.
But, all the gold mined throughout civilization is about 140,000 tonnes. To put is simply, if you took all the gold mined throughout history and made it into a single cube, it would measure 19 meters cubed (or 62 feet cubed). The official measurements of a doubles tennis court is 38 ft. x 78 ft. So in other words, widen the court 24 ft and shrink the length 16 ft. and all the gold mind in the world would fit into that area. That's not alot of gold. |
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nadiin82
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Other than the fact that Gold is scarce and is less abundant than the oil in the world; Gold is a very safe commodity to put your money in since it’s almost un-damageable and lasts longer than oil due to its solid inconsumable nature that will accumulate more value over the years. |
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mikea632
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its more cleaner.... |
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getit
 |
why does my ink cartridge cost more than a gallon of gas? |
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Fenris
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simple answer is because there is less gold in the world than oil. |
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perdidobums
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There is a lot less gold than oil is the quick answer. |
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Theresa
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With the way prices are going, oil will be worth more soon |
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yaqb4u4u
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it because gold is good looking, costly, limited and can be carried easily. |
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