To explain the value of gold, lets look at another precious metal which is also a currency, that being silver.
Silver however, is worth less than gold, why?
Silver is more plentiful, if you go to mine silver, it's easier to find and there's more of it.
Gold is valuable as currency, because it is so scarce.
It's hard to find, and even when you do find it, it's scarce.
And you can't just print more of it.
You have to find it and mine it and that in of itself is tough.
So that makes gold valuable.
Can't be faked, tough to find, scarce when you find it, ergo; value as a transferable medium.