gold, page-88687

You're quite correct, it's valuable because people think it is, it doesn't have a P/E and is only worth what the next person will pay for it. It's all psychology.

Gold isn't even useful in a collapse because you can't eat it or live in it and you probably couldn't sell it because people would be more interested in surviving than owning piece of metal.

In both World War 1 and 2 the price of gold fell, but gold is supposed to be a 'store of value'. Isn't it?

The current price isn't even close to it's record inflation-adjusted price which is over US$3,000.