The thing to remember about gold is it has no real value. Everything you buy has a purpose - the food you buy sustains your life, the car and petrol you buy gives you mobility, the electricity and water you pay for gives you basics of life. And a house you buy, you can use for your home and to provide shelter.
Gold in contrast is something you buy and don't use, ever. It just sits there. In that sense it has no value compared to assets like stocks and bonds, which pay interest and the money can be converted to things of real value, and property, which you can live in.
Gold was always a bubble, like the tulips mania hundreds of years ago... people will buy worthless things thinking they're not worthless just because other people are paying a lot of money for it. And if you buy worthless things, expect others to eventually catch on and sell it off someday. Housing, however, is definitely not gold in that sense.
