This link doesn't lead to a statement that latinum can't be replicated, because that's never actually been established on-screen. It makes sense and is almost certainly true, but it remains fanon.
It still doesn't really make much sense in a world where the vast majority of things are replicated. The only things that would give them worth are things that cannot be replicated:
In my opinion, I think some people would ascribe value to authentic luxury goods.
For example a bottle of genuine Chateau Picard. Why go to all the trouble of growing, harvesting, and fermenting the grapes when you can just snap at a replicator, *"Wine, Bordeaux, room temperature!" and have it materialize one for you?
Or, in "Captain's Holiday" Riker asks Picard to purchase for him a Horga'hn while on Risa. Granted, this is a bit of subterfuge to try and get Picard laid, but from Picard's perspective, Riker is asking for a genuine artifact of something he could likely easily replicate aboard the ship. Compare that to Quark in "Let He Who Is Without Sin" who likely doesn't care about the authenticity of the experience, and saves a few credits by having Horga'hns already when they on the way, likely replicated on the runnabout ahead of time.
Things that can not be replicated, or are too complex to replicate easily.
I'm sure, given enough energy and processing power, you could replicated just about anything... but if they already exist naturally, why bother? If it takes less energy to mine, or mix, or harvest latinum than it takes to replicate it, then replication doesn't make sense for it. That goes for just about every other physical thing as well.