Show Why Gold Cold Is Standard Gold Is the the- logical standard of value measurement because It has no commercial commercial com mercial use other than for a fe few minor trinkets and it therefore is not a commodity commodity com com- In the general meaning of oC the term The value of gold is established by the amount of labor or service that thatIs Is required to pro produce uce it ft an and only y the cost of pro production can ever er permanently permanently perma perma- chan change e its worth If It gold were plentiful and cheap to produce its Itsal value value val val- alue ue would be lowered and its use as a n monetary gauge gaue would be bo destroyed The quantity of gold produced produce and the cost of its production has always kept pace with the growth an and Increase in inthe inthe inthe the wealth of the world which fact still more firmly establishes it as the logical stan standard ard of value measurement |