Gold is being pushed by every low life huckster on every sucker who wants to believe the sky is falling while at the same time the dollar is being debased by unsound Government policy. That's why gold is not worth anywhere near what it's being sold for.
It's the same with real estate. All it will take is a change in Government policy and gold and RE will drop like a brick. Just as the elite failed to buy this election and fool enough of the ignorant, eventually normal intelligent people will prevail.
You can't easily figure out how much gold is worth at the time of a transaction.
You can't easily identify fraudulent pieces of gold, while paper bills have far more security features that the average person can use.
It doesn't matter what the currency is worth, because all you care about is how much you can buy with it at the store down the street. Most people are living pay check to pay check, so gold would do them absolutely nothing. They spend what they make at the time they make it.
Gold is only useful if you have a decent amount of money. And clearly those with a decent amount of money aren't buying up gold.
I highly recommend Charles Hugh Smith to consider this blog article by Prof. Krugman on gold.
Gold is anti-correlated to real interest rates, at least for over 200 years of empirical data. This fact solves the Gibson paradox, the work of Barsky and Summers (yes, the same Lawrence Summers who was instrumental in deregulating the derivatives market).
Conservatives were busy creating doom and gloom scenarious for the last 4 years in order to pump the value of their gold holdings. That much is obvious. Suckas will end up as bagholders, business as usual.