Honest question: my whole life (I'm 42) I've seen inflation fears and gold promotions. By now, even if the inflation fears come true, it falls into the "stoppe

Honest question: my whole life (I'm 42) I've seen inflation fears and gold promotions. By now, even if the inflation fears come true, it falls into the "stopped clock is still eventually correct", and the fetishization of gold never made sense to me - why not invest in something that has a value outside of luxury? I have no doubt gold will retain some value, and as a luxury will bounce back well when times are good, but luxury seems like a terrible choice of protection against bad times, as I'd expect luxury to drop in value fast vs practical concerns. Are there arguments in favor of this viewpoint I'm missing?