Not quite true.
Lots of gold is used in the electronics industry and if they could find a replacement metal they would as it costs so much.
Also Asians love the stuff and many of them buy physical gold instead of putting their money in the bank. Just spend some time in an Asian country and you will see what I mean.
Personally I can't see what the excitement is all about when it comes to jewellery. It's just a bit of shiny yellow metal. I suspect people often like it because they think everyone else likes it.
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