A few years ago, CNBC commentator Jim Leventhal made a pretty astounding comment. When asked about gold, he said he had no interest in it because gold has no uses as a metal.
This is a pretty absurd statement. Gold has multiple uses. And it would probably have even more if it wasn’t so rare and expensive.
In 2021, gold demand came in at 4,666 tons. Where did all of that gold go?