While gold can help increase the balance and offer hedges to some investors, there are also risks that need to be paid attention to. The point here is that gold isn't always a good investment. The best time to invest in almost any asset is when there is negative sentiment and the asset is economic, which offers substantial upside potential when it returns to favorable terms, as stated above. Gold will not depreciate like a currency, so investing in gold will always generate retention or increase in value.
However, gold is likely to maintain its value and it's hard to imagine a scenario in which gold investors would disappear. Consequently, whenever there is news that indicates some type of global economic uncertainty, investors tend to buy gold as a safe haven. While this value may change, one of the main reasons why investors turn to gold is because physical gold is easy to liquidate. If you invest in gold to protect your portfolio against volatility and inflation, exposure to the price of gold itself will be more reliable.