Gold pays no interest, has no use and no fundamental value - really?

Common arguments against gold are that it pays no interest, is useless, and is impossible to value. But that's all nonsense, says Dominic Frisby.

I know I'm supposed to be taking the summer off, but comments on Twitter from Alan Beattie, international economy editor of the Financial Times, raised hackles and lured me from my bunker.

Beattie declares that there is "no fundamental valuation model" for gold; that "it pays no interest" and that therefore it's "intrinsically speculative". Really?

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