text: why is it that gold & diamonds are so expensive? they are only rocks and minerals. they can't even power a car. so why is it that they are so in high demand?  isn't it only worth what people are willing to pay for it? yes they are rare, but you can't survive on them. so if it came down to diamonds & gold or being able to eat which one would you spend your last money on if you knew that there wasn't going to be any more food around for months? its expensive because its rare and elegant. something that is rare is not as abundant as a simple rock. in economic terminology, just imagine too many people chasing fewer and fewer goods. so obviously the demand increases and if deman increases, prices go up. if diamonds and gold are as abundant like sand and dust, i bet you could have gotten diamonds and gold for free.  but i agree with you in food and gold comparision. food is our need and gold is our want.