Alright then I was a bit wrong, so that gives intrinsic value to gold, splendid.
However I still disagree with the gold price. If that is all what gives value to gold, then perhaps gold should be = to silver.
Remember that the mining scheme of BTC is economically modeled, in a way, after gold mining and commodity production costs as fair value.
Satoshi said: "
The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price. In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around."
BTC and Gold, in a way, are similar due to the energy-value-backing used to mine them.