Why gold?

In these uncertain economic times, investing in gold is making a comeback. And the folks who believe that we should go back to the gold standard start coming out of the woodwork.

Gold is relatively scarce, of course, and you can make pretty things out of it, but it doesn't have magical powers. Why not base monetary policy on platinum? Or iron? Or lead?

Some people fixate on gold as the ultimate answer. Some people think the Bible is the only book anybody needs.

Irrational obsessions.