Indeed. No investment has no risk.
Sometimes the risks reflect the profits potential. For example, Bitcoin offers potential big profit but it has a big risk as well. While for Gold, the potential profit probably isn't as big as Bitcoin, but the risk is relatively smaller.
A simple explanation may be like the image below.
Low Risk Low Return and
High Risk High Return
Gold is indeed a low risk investment.
There is no type of investment that is
"Low Risk High Return", even if someone offers it, usually the investment will end up being a fraudulent investment or investment fraud.