Gold is a crisis currency
Gold is still seen as a valuable investment despite having survived wars, depressions, and numerous currency revolutions.

Gold can reduce a portfolio's total risk
When stock markets crash or paper money loses value, gold can be a stabilizing element in a portfolio. When used in moderation, it minimises the total risk of an investment.

Gold is a scarce commodity
In addition, gold, unlike paper money, cannot be multiplied arbitrarily.

All of this may be true. However, gold does not become a direct investment in which you, as a private investor, should invest larger parts of your assets. Because gold also has many disadvantages.