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Message:: [QUOTE="medoraman, post: 1634542, member: 26302"]Well this is where I guess I get accused of being a PM basher. Doesn't ALL metals fit this description? I mean, if this description is IT and is the basis of PM value, why is platinum, palladium, or rare earth metals valued more highly? Rare earth metals as a percent of usage versus scarcity are MUCH more needed and rarer. I will tell you why, its because gold and silver were the rarest metals known and obtainable 5000 years ago. As such, they were taught to people they are "valuable", and that has carried forward to today. If the ancients had known and were able to mine platinum, the price of platinum today would probably be $40,000 an ounce since its so much rare than gold, (or Pt would be $3000 an ounce, and gold only $500). So, instead of INNATE value, when you buy PM you are buying some industrial demand, and a whole bunch of historically taught demand. THAT is its only real value at all. I am fine with that, though. More money has probably been made based on human emotions than anything in the world, so I am completely ok with knowing PM's value is pretty irrational, and not innate at all, but the chances of it continuing is around 99.9%. Go ahead Inflexion, blast away on how I am a "hater".[/QUOTE]