You’re right. Gold is a barbarous relic, there’s no reason to move any assets into it. It produces nothing. It just sits there. What good is it? It’s just another element amongst many, backed by no government with nothing intrinsically good about it. It is much better to have real money in a bank, an insured bank, backed by the full faith and credit of the most powrful nation on earth than a pile of stupid old metal.