Gold is valuable because of its chemical properties, it is almost completely inert/rust-proof and one of the best conducting materials. It's a very useful material for electronic conductors for that reason.
Incidentally, Bitcoin is also rust-proof.
Gold's industry use remains negligible in the great scheme of things and only a very small fraction of its value is derived from its industrial uses. It's valuable but not that valuable.
[0] https://www.bluesea.com/resources/108/Electrical_Conductivit...
Conversely, this means it’s value as a hedge is also going to stay. Some can take gold today burry it in a hole and know it’s going to still be valuable when they or their descendent pulls it out of the ground in 50 years. It’s not going to appreciate they way stocks do, but it’s also not going to 0 the way stocks occasionally do either.