What I have read is that gold is a storehouse of value. It has been for 4500 years. Read the wording on any greenback and it says it is backed by the full faith and credit of the US. I would like to have a large pile of paper money but in the end it is just that, paper, backed by nothing.
I don’t doubt what you said, but I still don’t see how that makes gold so valuable. Sorry to seem dense....