Not all gossip is malicious, as others have pointed out. At its most harmless, it keeps everyone in the neighbourhood well-enough informed about each other's doings that basic civility is maintained and anomalies are noticed. For example, Mr and Mrs X are away for the week, and therefore no-one should be prowling around their house and yard. The Y family has just bought one of those massive 4WDs in some hideous colour, and since we know it's theirs, we just do a quiet eyeroll when it passes in the street instead of going, "Who in flamin' hell is that?!" The Z house is up for sale because a) Mr and Mrs Z have both found more congenial partners in other parts of town, or b) sadly, the lady they were renting it from has passed away, or c) they've just won Lotto and have moved to Queensland.
Then there are the people who have a sense of community-mindedness and a genuine desire to help others. Usually they are active in the local church etc., and can be tolerated as long as they are not overzealous in sticking their snouts into your affairs.
And then there are all the ones who are malicious or judgmental. I used to worry quite a lot about what such people might be saying about me & mine. But I'm finding as I grow older that I don't give a rat's arse about what they say. So long as they don't do anything actively harmful, they can think whatever they damned-well want.