World millionaires who have billions of dollars of money will of course choose gold for investment, in my country when covid or 3 years ago there were rich people who bought about 2 tons of pure gold, and the price of gold has gone up more than 15% in 3 years so the money has increased by 15% Of course, gold is the safest and most promising investment for the long term.
You are right, It is even more than 15% high in price than what you said.
]https://www.bullionbypost.com/gold-price/3-year-gold-price/]
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Gold is a stable asset with low to no risk per say and as you said, we too have a Gold market here and you see many people in that section of the market regularly. I believe it is another safer investment for the rich folks because of its stability in price which is less than what you see in Bitcoin especially.