I know people out there who have invested a lot in gold under the belief that in the event of like complete societal collapse or hyperinflation, they could use it for purchasing.
I have the hunch it’s a scam, but I haven’t learned enough monetary theory, business, or economics to understand why.
I think the “don’t hold it don’t own it” advice does make sense for a small amount of portable gold if you’re considering a scenario like a fascist government taking over and needing to flee the country with any wealth you can, predicated on the assumption that other countries are still relatively stable.
There are also a lot of silly people who hoard pounds of gold for apocalyptic currency which you’ve pegged.