It doesn’t, of course. The reason they push this grift is because there’s a very long standing right-wing and accelerationist belief that gold is a magic flawless value store. A lot of things feed into it- nostalgia for the Gold Standard times, fear of (and/or belief in) societal collapse, and general ignorance about value stores.
It’s a lot of the same reasons the right leaned so hard into crypto. If you hate and/or distrust government then you need another form of value store besides fiat currency. It may be because you don’t believe government will survive, or because you want it to die, or both. Either way you need an alternative and there aren’t many. Precious metals is one that people feel like they can wrap their heads around so they latch on to it. Crypto was exciting to these people because it seemed like money without government. Everything they believe about gold and crypto is wrong, of course, but there’s a lot of very motivated reasoning going on.
