Store of value means having the quality to preserve its value. An asset is said so if the asset can be stored and then taken without significant loss of purchasing power. Money and gold are examples of those assets, although both have their limitations. Both provide ways to save or accumulate purchasing power from the present and transfer it to the future
Money and gold as a store of value
Fiat money is more liquid than most other stores of value because, as a medium of exchange, money is acceptable everywhere. Furthermore, money is a convenient store of value that is available in some convenient denominations. Money holds its value better when inflation is low.
However, when inflation is high, fiat money becomes worthless. Its purchasing power over goods and services falls.
Unlike fiat money, gold has traditionally been a good store even when paper money is worthless. Gold is also resistant to high inflation. Nevertheless, it is illiquid and is not easily transported and exchanged. Likewise, other precious metals, gems, art, and rare items can be good stores of value, but liquidity can be a problem.
When the value of a currency becomes unpredictable, such as during hyperinflation, people will turn to alternative assets, such as gold, silver, precious stones, and real estate.