So people who invest into gold, are doing it not because they love gold, but because they believe gold is the only way to store their value and that is why they are buying more. With the way markets are acting, thinking stocks would stay safe, or bonds would stay safe, is childish. So they buy gold (and we buy bitcoin) because they know that no matter what happens, there is a value for gold and if we buy more of it, then we could make more money with it.
They are not wrong about that thought because the history of gold tells us that even though it doesn't go up as quickly as Bitcoin or cryptocurrencies, but it has always been a profitable asset over the centuries and it has been the most used investment asset from traditional times because people always knew it's a precious metal and it will always have value, and over time, its value can increase as its use cases will increase. Compare its price from 2010 to now, and you will see the results.
The price of 1 ounce of Gold in 2010 was around $1,200 or something, and today, it's over $3,000 an ounce. So, that's profit, even though it's not a lot as I said, but for someone who is patient and is only looking for something where they can store their wealth that wouldn't lose value over time and will also be safe, then gold is a great option.