Are these people serious? Who knows, they never share their investment strategy or portfolio, or whether they are buying a flat or renting (if collapse of fiat currency and end of world coming, better to rent than to buy)
So what is the good reason to own gold? As part of an asset allocation strategy. Since asset allocation strategies often suggest that the portfolio should contain some commodities I started off with about 5% in commodities ETF and then sold ETF and added physical (why pay yearly fees, even if only around 0.50%). Not a very good idea, on hindsight.
Gold just sits in the dry cabinet occupying space and doesn't generate income, unlike stocks, property and bonds. All that sitting around has caused it to drop from 5% to 3% of the portfolio as everything else appreciated.
Instead of commodities, my idea now is to hold ETFs in a commodity dependent economy, Australia. Have decided against holding commodities ETF that does not generate income and charges annual fees.
But if you have to buy gold (and it does look so shiny), the most popular size is 1oz (according to Ernest from Beauty World). I prefer bars to coins due to lower premium over spot gold. Just don't buy too much. After a few years, you'll also wonder what exactly gold does other than to take up space.
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