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Not advice just guessing.
Psychology of mobs comes into play. Scared people or treats of war or dooma and gloom make it go up. If econ magically goes back to sanity then it drops
Time for me to become a moisture farmer.
gold you cant really stop people to use it, you cant made fake gold, gold exist physically so it is not digital money
treasure bond and us $$$ are just paper, rest are just digital data on a server, but gold is something people trust since 5000 years at least, nobody have monopoly on gold
it is not unique to gold, it also work with silver and platinum
for diamond it not worked anymore because it become cheaper to made synthetic diamond, but we dont have technology to made synthetic gold, silver and platinum because you need to manipulate atom itself, diamond is only carbon molecule, so it is easier to grow diamond with methane in vacuum chamber