Good morning nairalanders happy Sunday to you all. Please why is gold and Diamond plus other metals and stones very much expensive? My friend that wedded yesterday bought pure gold wedding ring set of 3 for $1050 I asked him if that ring will give them the best marriage, best kids and heal them when they fall sick but he says No? I start to ask why are these things so expensive that if you wear them you on a suicide mission if you don't have security? Or was it God that made it so?
I want to use this opportunity to thank all those who gave their advice on my post two weeks ago concerning my wife and my family. She read the post and she became sober and ashamed at your respective advice. We thank God for a successful wedding yesterday. To God be the glory forever. Amen

Because they are rear stones

sunshineV:
Because they are rear stones

I know but what are it's uses other than wearing them?

amliftedhigher:
I know but what are it's uses other than wearing them?

Cause they've been for so long and very rear... We make it expensive. Think of it like money, made out of paper, in fact it's just the printing on it that make it different from ordinary paper but the whole world still looks for it, kill for it and can die for it cause humans gave it that value.

We gave gem stones value

They're scarce and when found, the production process is not cost-friendly.

The Concept of Scarcity is the reason for the High Price.
Some of these Items don't have much uses particularly (i stand to be corrected) They are mostly just an ancient and continuous store of value.

Look at ecurrencies like Bitcoin for example, 1 btc is worth somewhere around $4000 .

Major Reason are (1) Demand (2) Scarcity (3) Longetiivity (How long can it survive)

These are the things that affect the Price

OK