Precious Metals are Preposterous

The prices of precious metals are preposterous and fueled by irrational chimerae. The popularity of role-playing and video games drives demand for gold, as millions have been trained to think of gold as highly desirable, and the only possible currency, within the gaming system. In reality, in jewelry, gold has been supplanted already by other shiny metals that can mimic its properties or indeed surpass them. Gold is not what anyone will want in an apocalypse; food and guns are what people will want. It is not at all likely that precious metals will ever again occupy the position of currency within any future civilization.

As for precious metals other than gold, similar logic applies. For what reason should a man pay $1000 an ounce for platinum and $16 an ounce for silver? Silver is destined for long-term decline, because it is no longer needed in film. Platinum is destined for $500/oz., because it will soon be no longer needed in catalytic converters. The temporary aberration that saw a spike in precious metal prices is destined to peter out as the oldsters that clung to the shiny metals die off, and their descendants take the metal and sell off.