You have got to be kidding? Do you ever read what you type?
Sometimes you come up with some really intelligent comments, other times you sound completly ignorant (due to your close-mindedness). I think you have waayy to much time on your hands, I on the other hand don't. Use wikipedia or something to find out why this pointless jewelery is going up in value.
By the way, $1438/oz. 
I didn`t say it was pointless. I have a large Diamond ring in gold that is worth a years salary for some. My family has been involved in the Jewelry business and the diamond district. I do know the worth of these type of things. I was just trying to see where you were coming from and how important you regard this investment as I would assume you would have a great deal tied up in it if you REALLY believed it to be a sound way of converting wealth.
I personally don`t think it is viable whatsoever to be used as backing for all currency. The population is growing too fast and too large for it to be sustainable or feasible for the future. If everyone invested in Gold, there would be a window of devalue that may sink the worth to an unrecoverable point. Combine that with a limited supply and with the top 5 percent who would in fact own all of the gold, there would be little to nothing left over for the common man.
Also, as the population grows, with the finite amount of gold available, there would be no other alternative but to devalue it in order for the monetary system to work.
At the end of the day, whether is be gold, silver, fiat money, the real problem is an expanding population.
