I have ~3% of my portfolio in $GLD. I also had a bit in $SLV back when, not now, but now that it is ~$14 that could be interesting once again. I haven't made up my mind, though, as a number of the large cap blue chip sticks with good cash flows have decent dividend yields of ~5%, and those are hard to resist in a conservative portfolio.
Aside from the retirement pay that I would be getting from my office and also the pension that I would be receiving from the social security, I have no other fallback like gold or even jewelries. That's why my plan is to buy real estate when I receive my retirement pay of about $200k some years from now. At least real estate will not depreciate in value albeit its value increases as time goes by. And after constructing an apartment, that would provide me with money for my day to day expenses when I am old and gray.
