Warren Buffett on investing in Gold

Buffett emphasized the non-productive aspect of gold in 1998 at Harvard:

"It gets dug out of the ground in Africa, or someplace. Then we melt it
down, dig another hole, bury it again and pay people to stand around
guarding it. It has no utility. Anyone watching from Mars would be
scratching their head."

Source: wikipedia
http://en.wikipedia.org/wiki/Warren_Buffett