It is a better investment than a savings account. At least it stays up with inflation, bank accounts rarely even pay half the inflation rate and you have to pay income tax annually on the interest your money “earns”.
As a way to spread risk in volatile financial events, is isn’t bad at all.
But can you waltz on down to walmart and buy a loaf of bread with it when cash goes to hell? I’d watch that zombie reel over and over again spitting my popcorn all over the screen from uncontrolled laughter while I traded true utility goods! Gold is more fiat than paper ever will be. You can’t eat it, wear it, or stay warm with it literately. You could melt it down and make shitty ammunition out of it I suppose. I, and other elect people, will own people that invest in gold when the time comes.