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I'm not really sure why but gold and silver seem to always have value. Everywhere in the world throughout history as soon as people rise from a hand to mouth existance they begin to place a value on precious metals and gemstones. The only places that didn't do this were places that didn't have these available and there they used some other rare thing or hard and slow to make things as currency.
Gold and silver meet all the requirements for honest money:

Fungible: Especially today, but also throughout history, gold and silver had and have a recognized value wherever you go. Cross a continent 1000 years ago, and whatever civilized country you end up in will recognize PM's as money. Sea shells and carved sticks were not so useful as trade expanded to other areas which did not recognize them as having any value. One island civilization which utilized what they thought "rare" shells had their entire wealth stripped from them when Europeans showed up with shipholds of them. They were left with no goods... and a pile of worthless shells.

Durable: Gold and silver coins can last centuries.

Portable: A huge amount of purchasing power can be carried in gold, and regular money as silver.

Divisible: Coins can be made in varying weights, and varying purities. Some had dividing lines like a pill, where one could break off a fairly accurate smaller piece.

Rare: THIS is the most important aspect of honest money, and why modern governments HATE the idea of going back to gold and silver. You cannot PRINT them. There is a finite supply, and a specific amount of labor and investment to acquire them which measures their value. Governments would not be able to spend like they do now without our permission, were they not able to print money. Every dollar they print dilutes the money supply further, devaluing the dollar further. The current printing presses, running day and night to pay for our 2020 "crisis" is directly related to the spike in PM value.
 

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https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

Gold did exceed $2000 in 2011 not sure what's up with those saying it's at record highs. Not yet but I think it will. I believe this run will continue some. The market for stocks I believe has peaked but I said that ten days ago and it's still going higher. I'm still considered out except base investments for dividends. My trade of the year oddly wasn't AAPL which has done great but was PSLV a silver ETF. Bought in when they decided to print $3 trillion at $5.25. Sold my investment at $9 keeping the profit. I think I'll hold till $12 at least. If silver continues to move fast then $15 on that one is possible. Silver has tapped into the $40's a few times in my life time and IDK why it wouldn't now. Too late to buy the physical to me though. The premiums as noted in this thread are too much. I don't blame apmex, jmbullion or the others I'm just not paying $37-8 an ounce right now. Remember if you are in a high sales tax state check your regulations. Some states have no sales tax over a dollar amount calling it an investment. California it's $1500.
 
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