Gold is a good factor for diversifying portfolio because it is not positively correlated with other assets. Thus, when the price of other assets decreases, gold prices may increase and this can maintain the portfolio's value even in crisis times.
Throughout history, gold has been seen as a special and valuable commodity. Today, owing gold can can act as a hedge against inflation and deflation alike as well as good portfolio diversifier. As a global store of value, gold can also provide financial cover during geopolitical and macroeconomic uncertainty.