Here we go again. The subject was well dissected and argued for, now we are back to square one. Anyway...

The intrinsic value of gold, which is the same as its value for direct use, we all agree on. But what is the intrinsic value? Nobody knows, gold has been money for thousands of years, so it is impossible to say. Gold is now at about 1200 USD per ounce. Could the intrinsic value be 100 USD? 1 USD? Can it be used to build aircrafts? No, too heavy. Can it be used to build ships or support the cement in buildings? No, to soft. Can it be used as an offer anode on a ship? No, too hostile to the ions, don't want to connect. It has some uses, but we do not know the value for direct use.