Precious metals have value due to their inherent qualities such as rarity, beauty, divisibility, portability, malleable, among others. Gold and silver have been used for trade for thousands of years. In fact, gold and silver have been in almost continual use as money until this century. The global use of gold as money ended in 1971 when the US ended its adherence to the gold standard. The gold standard required that there be so much gold held in reserve for every dollar printed. With no gold standard, governments can create all the money they desire, which can lead to inflation.
Current money is fiat, having no actual value backing it up, just peoples belief that it has value. There have been many fiat currencies over the centuries, but all have failed to hold value relative to gold and silver. If history rhymes, then gold and silver may offer a safer haven than saving cash.

One easily relatable example is that of the US quarter dollar coin. Before 1965, US quarters were composed of 90% silver. Now quarters are copper and nickel, and have no significant metal value, rather just perceived value.
In 1960 a silver quarter bought almost a gallon of gasoline.
In 2020 a new quarter buys a fraction of a gallon of gasoline, but the current value of the silver in a 1960 quarter is more than enough to buy a gallon of gasoline. So the coin has lost over 90% of it purchasing power, but the silver content has not.

Another easily relatable example is that of the US dollar coin. Today a dollar is worth, well, a dollar. But at the current silver price of about $25 per ounce, the silver in a 1960 silver dollar coin is worth close to $20. So two silver dollars would be worth about $40 today, more than the cost of the average casual dining meal price of $25.11.
In 1960 two silver dollars bought a casual dining meal, costing $1.93.
In 2020 two paper dollar buys a fraction of a meal, but the current silver value of two 1960 silver dollar coins is enough to buy a meal, $25.11, with serious change to spare.

These examples show that precious metal tends to hold value over the long term. Short term metal prices can fluctuate significantly, but over the long term they have historically held their value better than fiat currencies. The most important observation of this is that it is not that the gold and silver are becoming more valuable, but rather that the dollar has become less valuable.

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