Which is more valuable: a diamond or gold?

Question

At first I thought diamond is more valuable, but my mates say gold is more valuable.

Answer 1

Low grade diamonds called "industrial diamonds"

are quite useful as components of various boring

or cutting tools

But for jewelry uses, the rarer the stuff, the more

value buyers and sellers gives it, therefore the more

expensive it is. That gives jewelry-grade diamonds

the lead.

There are exceptions:

Emeralds are rarer than diamonds, albeit slightly

less expensive.

Here, tastes and fashions are at play. And  some

superstition or magic thinking, entertained by

marketers.

Things might get a bit blurred now.

Technology brings man made gems.

But until now, no man made gold, alchemists failed ;-)

Now, market "price" is one thing, and here diamond is

at the top. But what people call "value" (and economists

call "utility") is linked to each person's needs, means,

satisfactions and preferences (and of course beliefs

and perceptions).

Your mates have the right to consider gold more

valuable ...for them (for example if they privilege

easy tradability over rarity).

.

Answer 2

Gold is much more valuable. Especially pure Gold 999.99. Gold is a commodity that can be traded and is traded on the International market so there is value in it. A country's economy is weighted in how much gold they have.

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Answer 3

Ah the trick question you did not say what amounts of either.

In terms of raw use-fullness gold is more valuable in my opinion as it can be used for more things, such as electronics and can be fashioned into vessels for carrying things.