Relatively speaking, very few people own gold. I have similar questions. It seems to me the only value gold has is the value our faith gives to it. If the economy collapses like I think it could, how do we use gold to pay the electric bill or the cell phone bill? Who will mint the gold coins into usable currency? This is not the Great Depression era. We are a nation of about 300 million mouths to feed where criminals are better armed than most law abiding citizens. And with what will we pay those who keep us safe? Who will answer the phone when we call 911? Do we expect them to not have self interest?
I think gold is a great hedge against inflation but I am not sure it is such a great hedge against collapse.