Just look at the gold price over the past 100 years, even the last 10-15 years have seen an modest increase. It will only go up & it is highly unlikely that it won't ever be perceived as the asset compared to other precious metals.
> Just look at the gold price over the past 100 years
Or 2,000 years:
"the researchers look at pay for a Roman legionary, in the era of Emperor Augustus (27 B.C.-14 A.D.), who was paid a salary equivalent to 2.31 ounces of gold. A centurion was paid a salary equivalent to 38.58 ounces of gold.
Compared to modern US Army salaries, a private is making 20% more than the legionary, and a captain is making 30% less than the centurion" [1].
A counterpoint can be found in silver, where unexpected Spanish silver production in the New World prompted inflation around the world [2][3].
TL; DR For historical reasons, gold is grandfathered into our collective consciousness.
