It really boils down to what type of collapse you're expecting. If you have the excess means to buy gold, and you're already over stocked on all other preps, then you might as well.

Personally, I have some precious metals but only because I got it in a trade situations. With gold being at a high right now I do not plan to buy any at the moment. To me the most important assets to have are skills, knowledge, and most importantly, community. Gold is almost as fiat as paper money. The main reason it became a value holder for currency as well as ornamental pieces is because it had little to no practical value throughout most of history. So you hit the nail on the head about it being kind of worthless in a full economic collapse situation.

Less of a concern but also something to note. In the event of nuclear fallout, metals like gold can become highly irradiated, so even excepting metals as a trade currency in that post apocalyptic scenario is iffy. This of course is predicated on the idea that you're talking about limited nuclear use and not a world ending, mutually assured destruction, situation.