In my opinion, gold is not an investment but a currency. Although it can be used for investment speculation, this has not been its main financial function over the thousands of years of its financial use. In a world where politicians and central bankers cannot stop printing money that debases paper money, gold is poised to remain a strong currency.
A year does not pass where there is a currency collapse (defined by a +50% drop in value) where residents would have been far better off if they had held some of their money in gold as a hedge against currency collapse. These currency collapses can occur in a single day or week, but they are never a surprise when they happen. Either government mismanagement or military conflict generate these currency collapses.
In 2014, there were several currency collapses: Russia, Ukraine, Nigeria, and Argentina. Since 2012 there were many others: Egypt, Iran, N. Korea, Syria, and Venezuela. (Even bitcoin had a currency bubble that peaked in 2013 and collapsed in 2014.) Plus, there are sporadic minor currency collapses like the Japanese Yen that has fallen 38% over the last three years.
In almost every case, there was an inciting event that caused an immediate effect on the currency, perhaps a 3-5% fall in a single day. When there is a currency issue, it will be all over the news and people will be talking about it. Then, as events become worse, the currency begins a slow decline over weeks and months until residents find that their money only buys half of what it used to; or less. Once the currency begins a drop, the government suspiciously announces capital controls that include: the government controlling all currency rates, banning gold exports, and sometimes gold trading.
Holding some of your savings in any stronger currency would benefit someone whose home currency is at risk of falling. Gold happens to be one of these stronger currencies during these times with a long history of holding its value.