Central banks buying the most gold since 1964, they all want to be protected once the money printing approach collapses.
Gold as a hedge never works, as one never buys enough to hedge an opposite position. Gold in most accounts is a token amount. Also, the buy low thing is kind of trite when you don't really know where 'low' is.
And how exactly does that help your portfolio? I hope you like the colour red.
buy low, sell high...look into it