Gold is Money
Money:
"Money is any marketable good or token used by a society as a store of value, a medium of exchange, or a unit of account. Money objects can meet some or all of these needs. Since the needs arise naturally, societies organically create a money object when none exists. In other cases, a central authority creates a money object; this is more frequently the case in modern societies with paper money."
The widespread influence of Internet is fueling an attendant rise in education-- including education about what money is-- and also an attendant rise in both general skepticism and general libertarian ideals.
These ideas fueling societal trends ("memes") do not work against the price of gold long term. With the rise of ETFs (GLD and eventually also a Silver ETF) it becomes a checkbox option to have a 5% exposure to gold in all financially-planned portfolios.
This trend is also well underway. Financial planners who seek diversity and a basket of "negative correlation" in client accouts are finding a 5% allocation a very easy sell to most clients these days.
Imagine just 25% of all retirement accounts waking up to diversification with ETF-based gold, and placing 5% of portfolio in it. That would have a huge impact current demand, of which investment demand has been nil up to this time.
Gold is money.
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