Gold indeed is a fascinating asset. This is the case due to the myriad forms of explanation you will hear if you ask an investor why gold has intrinsic value and why they think the price of gold is going to go up.
If you distill down the responses people will give you for why they buy gold, you arrive with essentially three value drivers:
It is incredibly rare.
It looks pretty.
Others find it valuable (or will find in more valuable in the future than they do currently).