Unlike commodities such as wheat or oil, which you can at least eat or burn for fuel, gold pretty much lacks any inherent value beyond what the market assigns to it.
I’ve been saying this for a long time. What is gold good for? Its just a medium. In very hard times, who needs it? Gold will hold value only if somebody else finds value in it, and most people only find value in it, to preserve value. Once that value is gone, its worthless. Well maybe not entirely.
With India and China changing the market demand, we now see that the value of gold is changing. Something to think about.