Does anyone here know the reason behind people loving precious metals?
Let's see...
Fiat, or bank notes, means trust in the government and the central bank. They were proven as not trustworthy and they use inflation to make banknotes actually worth less and less.
Bonds are also government related.
Bank deposits - some elders use them, although I think that only the uneducated ones do, since they mean trust in banknotes. People use them because they're easy to do.
Stocks are high risk and may need third party to trade them for you, so no.
Cryptocurrencies are too high tech for them. Also high risk.
Properties - this can be a good field, but they need paperwork and the investment cannot be liquidated quick.
Precious metals - they are historically good investment, you don't have to trust anyone, easy to hide, easy to liquidate, easy to pass to children (you don't need lawyers nor taxes)
Now, if you would be quite old, what would you choose?