5 REASONS WHY GOLD IS VALUABLE (OR NOT)

We were visiting the Gold Souq…

Which is a traditional market in Dubai. Many online sites says this is a must go to place.

Choi says hell no this isn’t!

Unless you are into buying gold, why come here and feel like a damn peasant?

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I also have absolutely no interest in gold.

I don’t care about gold.

Thus I spent only 15 minutes and got out of there. Not a must see in my opinion.

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What the hell is the big deal with Gold anyway?

Why are people so into it?

Do you think wearing this shit looks good?

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No, it does not look good.

So why, why do  people like gold so much!?

Let Choi do some research for ya!

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# 1 – Gold is scarce – bbc

Scarce does not mean it’s impossible to find. If it’s impossible to find then it’s rare, which you could argue would increase the value but not a lot of people would be able to have it.

Gold on the other hand, has just enough that it holds value yet enough people can purchase it.

# 2 – Gold has a low melting point – bbc

This is an important as that means gold can be turned into coins or jewelry. This versaility drives up value for gold.

# 3 – Gold is most attractive to the human eye.  – hardassetalliance

wrong

In Choi’s eyes gold is damn ugly. So I will have to disagree with this point, move on and pretend I never wrong this point down.

Next.

# 4 – Asset that is not some one else’s liability – hardassetalliance

Okay! Accounting 101!

If you have an asset, you have a liability! Otherwise your damn balance sheet won’t balance.

But with gold, there is no liability attached to the gold. This also makes it valuable .

# 5 – It has history – CNN

Kings, Queens, history of mankind have all wanted gold. This has passed on down the generations where the belief is if you have a lot of gold, you are wealthy.

This is true especially with the older generation. They think by giving you gold it increases your luck and wealth.

Just write me a check next time!

It’s cool that gold is valuable.

But Choi is broke as fuck.

Broke

So after a depresssing 15 minutes of watching people buy gold, I went to the Spice Souq because that’s the only thing I can afford.

Haha.

And I will end off with some words of wisdom.

Buy gold to invest.

Not to wear.

Spice Souq Pictures (also not worth visiting imo):

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Written from Dubai, Sheraton Grand on April 19 2017

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Categories: Dubai

Tags: , , , , , , ,

7 replies

  1. I love spices and I love to cook so I would think that I might enjoy the souk. And I love earrings but I might feel like a peasant.

  2. Interesting! Also, as always, great photos 😊

  3. Hey Choi, I’m surprised you lasted fifteen minutes. I, too, found the Gold Souq a waste of time. And for what it’s worth, I didn’t like the Spice Souq either.

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