Survival/elementary civilizing skills on the whole are objectively more important than gold. If we could not draw water, produce food, bear/raise children, make clothing, build shelter, we would be much worse off than if we didn't have any gold.

Disagreement over different skills worth relative to one another, disagreement over what plans to execute as a team etc. dissembles the individual skills' value compared with gold.

People who can't agree where to put a bridge, what crops to plant, or whether or not to go to war will all want gold. The consensus about gold's value is a stronger component of gold's worth than its actual intrinsic value is.

Imagine there's a person with a drill for wells and a person with a material amount of gold. If each walks into a town where people are dehydrated, the people of the town will hopefully be more excited to see the drill person than the gold person.

If they each walk into 5 random towns, however, one would imagine the gold guy would have a more positive reception on average, because gold's beauty is independent of people's circumstances or culture, whereas the value of a well is very contingent on whether or not people want a new source of water. Historical royalty who did not want for anything were always happy to see more gold. Precious metals are one solution of the age old conundrum: "What gift do you get for the man who has everything?"

This relatively inelastic desirability makes gold valuable for trade. As a proxy for human energy and people's resources, gold can solve many different problems that a drill cannot.