Several facts repeatedly validated by the market:

Global central banks are systematically increasing their gold holdings.
IMF data shows that the US dollar's share in global foreign exchange reserves has fallen below 60%, a multi-decade low.
World Gold Council survey: 95% of central banks still plan to continue buying gold.
The logic behind this is not complicated:
Gold does not depend on any country's credit and has no sovereign default risk.
In times of rising uncertainty, this is of great value.