Why does gold hold / increase in value?

My question is why does gold remain at value? Hear me out. It’s practically use less in a physical way. It’s main use is jewelry, followed by electronics. Other then that it’s really just hoarded by investments. Realistically in my thinking it’s heavily influenced from the mass majority believing it’s worth something.

I’m curious about your thoughts and or why you invest in it. If you agree or disagree let’s hear it!