Telegraph (meus destaques):
Is gold a commodity or a currency? It certainly fits the definition of a commodity: A substance of value, with a uniform quality produced by many different producers.
However, unlike other commodities it has relatively few uses other than as an ornament. Copper is used in wiring, iron is used to manufacture steel but gold’s main uses are – and always have been – as a store of value and as a way to demonstrate personal wealth. Even if solid gold bathroom taps are not to your taste, they certainly make a point.
This means that gold really should be considered as a currency – and nothing else. This brings us on to the subject of fiat money.
Leitura complementar: Reserva de valor?
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