Not so. Gold has a lot of very useful and unique properties. High electrical and thermal conductivity, ductility and resistance to corrosion make it invaluable in electronics. The last two make it also an excellent material for covering surfaces with.

Why would you and I want to own it may be questionable, but why would someone who can make use of its exclusive properties want to own it is pretty obvious. If it were common, that's where it would stop. Unfortunately it isn't, which pushes its price up, which makes it an attractive investment commodity, thus answering the question why Joe Average may want some too, even though he is not going to make electrical wires out of it.