It isn't just gold, it's any commodity to be honest. Gold has industrial uses, but it has served as a medium of exchange for humanity since the invention of money. So yeah, that creates an emotional attachment. The real safe haven though is due to inflation. Every single currency on this planet is denominated in trust. And I cannot speak for you, but I don't trust any human institution as far as I can throw it. Governments are no different, and if anything worse. Like it or not, the buying power of your dollar has decreased at a much higher rate than your income has increased. People can see that, and if you want to preserve wealth, you need to find a safe haven. That can be gold, silver, oil, copper, (apparently bitcoin), land, or whatever. You just need to park it somewhere, or hope your investments in the market can outpace an inflation that is always underreported.