Is it good to buy gold in times of crisis?

IN 1974 Richard Nixon allowed Americans to buy gold bullion again, after a 42-year legal restriction was placed on gold for private ownership. The price then was US$150 per oz, and the rand was stronger than the US dollar.
In 1980 the Russians invaded Afghanistan and the price of gold reached US$800. This laid the foundation for terrorism across the globe. US$1,00 got you R0,83c.
From 1992, gold plummeted until it reached a bottom of US$225 per oz — seeing a bear trend last almost 12 years. In 1986 the United States imposed sanctions on South Africa, and Krugerrands sales disappeared overnight. From being the market leader, the Krugerrand brand took a huge blow as the Americans were the country’s biggest buyers. R2,89 got you US$1,00.
The bull market started in 1992, but only picked up momentum leading up to Y2K when the doomsday era reckoned the world would fall apart.
After 2000, the tech bubble burst, and IT shares were crunched because they were priced so high. 9/11 caused a tremendous panic — Wall Street and all world markets and the world went on lock down.

Gold got more impetus from this seminal event in modern history. This led to war in Iraq, and the devastation and destruction and millions of deaths in the Middle East. In 2002, US$1,00 would cost South Africans R11,47.
After the fall, the markets and the economy started to pick up and there was a bull run until the housing bubble crashed in 2007, and created, which today is known as, the Great Recession. Gold price in 2008 was US$1,150 , and the Rand tumbled again to R10,32/US$1,00.
This month alone has seen oil plunged into negative territory for the first time on Monday April 20, 2020, the housing market has dropped and asset prices have fallen sharply.
In 2020 we face ourselves with a mammoth task of overcoming the Covid-19 threat as a global, united world. There have been crises before, and unfortunately more to come. Today, 1 oz of gold is nearing US$1,700 and US$1 will cost R19,00.
Gold is the asset class that defies logic and goes against the grain. The bright investor buys gold in the good times, bad times & all the times.
— IOL