Where do you get this from? Statista data show way more than 10% of demand from ...

trident5000 · on Feb 25, 2021

Jewelry is just an extension of speculating on the metal. You can make a necklace out of many materials and it will function the same.

Cobalt is used more in electronics than gold. The MC is not close to the same. Almost 100% of golds value is from speculation.

tomjakubowski · on Feb 25, 2021

> You can make a necklace out of many materials and it will function the same.

How so? Jewelry's function is to look a certain way.

trident5000 · on Feb 25, 2021

I can make a necklace look almost exactly like gold but out of another material. The slight difference in subjective aesthetics does not justify a 1000x+ price increase. Its expensive because its a speculation.

Aunche · on Feb 25, 2021

Cobalt is also thousands of times of abundant than gold...

https://en.wikipedia.org/wiki/Abundance_of_elements_in_Earth...