I wonder how much will an ounce of gold cost if the demand came only from its industrial uses.
I have wondered this as well. According to
http://www.numbersleuth.org/worlds-gold/AboveGround.pngOnly 12% of gold is used in industry. Unless I am mistaken, I think this means that gold's price would be ~12% of its current price were it to be used only for industry (massively simplifying of course).
