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.
Depends on what you want to achieve.
It’s a hedge against inflation. So in times of high inflation and economic uncertainty it will do well.
Keeping a small amount in a safe in case the world goes to shit, well only after you have a pile of guns, ammunution and canned food.
It’s not a productive asset. If you buy stocks you’ll probably be better off in the long run.
That being said your investment portfolio should not be only one kind of investment and gold should probably be a part of it eventually.