Why do people insist that gold is a good investment?

When I was young, I think in the late 1970’s gold was going for $800 an ounce. Now it’s about $950 an ounce.
That’s $150 increase over the past 30 years.
I’m not going to do the math but that is a very poor earnings over 30 years.
So why do people still think gold is a [...]