There is no shortage of powerful artifacts and magical items scattered throughout the Infinity Gauntlet. This makes sense, as an Infinity Stone-equipped gauntlet has been at the center of several of Marvel's cosmic conflicts, but really the gauntlet doesn't have any powers of its own, nor does it do anything at all.
Marvel's most popular story surrounding the Infinity Gauntlet is the 1991 story of the same name. This event was the culmination of the Mad Titan Thanos gathering all six of the Infinity Stones (Gems at the time), a quest Thanos refers to as the Infinity Crusade. Once the Stones were assembled and placed in the gauntlet, Thanos practically achieved godhood and committed his most heinous act: snapping away half of all life in the universe.
Many would say that it was the Infinity Gauntlet that granted Thanos his omnipotent power, but this is not the case. It's the Infinity Stones that gave Thanos godlike abilities, and all the gauntlet did was serve as a convenient, albeit badass, way of holding all six Stones at once. Even others who have wielded the gauntlet, like Captain America during the incursions or Black Panther battling God Emperor Doom, were only given incredible power because each time the gauntlet had the Stones in it. However, it can be said that the gauntlet is somewhat essential, as Thanos' original Infinity Stone plan proved. Despite what might have happened there, Thanos could have achieved the same level of devastation in Infinity Gauntlet just by keeping the Stones in his pocket, but that would have made for a far less entertaining spectacle.
Perhaps a case can be made for the Infinity Gauntlet being an artifact that is capable of harnessing all six of the Infinity Stones' power at once without being destroyed. This is certainly the MCU's take, in which the Infinity Gauntlet was forged by the dwarves of Nidavellr using the energy of a dying star. As cool as that sounds though, unfortunately that's not what happened in the comics, which debunks the aforementioned case. Thanos made the Infinity Gauntlet simply by fashioning notches into the gloves of his standard attire and thus named it based on its newly crafted purpose.
In short, the Infinity Gauntlet is one of Marvel's most powerful cosmic artifacts, but only when it has the Infinity Stones in it. Without the Stones, it's simply just a fancy metal glove that doesn't do anything special. Honestly though, it's kind of impressive that a regular glove is regarded as Marvel's most legendary item. The Infinity Gauntlet is revered as one of the strongest items in Marvel, but really its powers only come from the Infinity Stones that power it.
