In addition to my contributions to the great pyramid scheme known as the US stock market, I have also dabbled in "investments" in precious metals over the past few years. I use bunny ears in conjunction with the term investment for precious metal buying because strictly speaking an investment is something that pays you (according to Kiyosaki of Rich dad Poor dad fame). Not something that you pay for and then pay to hold onto. ( A house that you buy to live in is also not an investment). Gold has been called a hedge against inflation not an investment - 150 years ago an ounce of gold would buy you a well tailored suit. Today and ounce of gold will still buy you a well tailored suit. Gold has been inflation proof (vs the dollar) so far.
Another traditional reason for purchasing gold is as a hedge against the market. When the market was doing badly sometimes the price of Gold would go up. However these days I think there is renewed interest in Gold and other precious metals and people do not run to Gold when the market goes down. The price of Gold now follows the market - because people (like me are already in Gold as part of their portfolio). This whole post is simply conjecture and needs more study.
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