Gold, unlike all other commodities, is a currency...and the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
Nobody believes in magicians any more, nobody believes that anyone can come along and wave a wand and turn you into a frog. But if you read in the paper that by injecting certain glands scientists can alter your vital tissues and you'll develop froglike characteristics, well, everybody would believe that.
What is the meaning of it, Watson? said Holmes solemnly as he laid down the paper. "What object is served by this circle of misery and violence and fear? It must tend to some end, or else our universe is ruled by chance, which is unthinkable. But what end? There is the great standing perennial problem to which human reason is as far from an answer as ever.