There is an interesting viewpoint circulating in the financial circle — gold is essentially a currency, and everything else is merely an agreement based on trust.

It makes sense to think about it. Why has gold been able to retain its value from ancient times to the present? It's not because it can produce anything, nor is it because it creates any value. It's simply because the whole world recognizes and trusts it. As for paper money and digital currencies, to put it bluntly, they are all based on the promise of national credit or consensus. Once that credit is broken, these things could instantly turn into worthless pieces of paper.

Gold is different. Its scarcity and physical properties are evident and do not rely on the commitment of any single institution. This is why, during times of economic uncertainty, many institutions and individuals increase their allocation to gold. It is not superstition, but a pragmatic choice for risk hedging.