You're completely wrong about gold not having any utility. It's one of the best conductors of electricity.
First of all, Warren Buffet himself invested billions of dollars in silver and basically tried to do what the Hunts Brother did in the 70s. Basically buying a bunch of silver stocks/futures from COMEX betting that theres not enough actual silver reserves to cover the number of stocks being sold. Warren Buffet and the Hunts Brothers got fukked. The reason why gold and silver are actually worth something is because there's a limited supply, it is tangible assets, it's not fiat like cash. Gold and Silver was used to back up currencies before the 70s, now our currencies are not backed by anything, just treasuries notes, worthless paper.
As for the price swings in gold and silver, like any market, it is manipulated, why do you think they sell silver and gold stocks telling people it has the physically back up if people decide to take delivery on it but when someone like Buffet does, it doesn't happen but even someone as rich as Buffet is no match for whoever is controlling it.
I invested in a shyt load of silver a few years ago when silver was 10 bucks, sold half at 18 bucks, still got half left and it's over 30 bucks now. I'll probably pass it down to my children.
If you invest in gold or silver bars/coins you will never ever lose.
Now I think the anti-metals arguments are usually pretty weak, as critics usually assume the reason firms/individuals that own them are pretty narrow and can't withstand price drops. But it is not a smart idea going into any investment thinking you will "never ever lose".
