First of all, let me state for the record that I am not a gold bug. I do not linger in my basement salivating over gold bars while babbling about imminent inflation and world chaos. Gold as insurance seems a weak argument to me honestly, as I would rather own Coke or MasterCard, which have pricing power plus a return on capital. (Yes, I own both.) I feel quite confident that people will be using plastic (credit cards) and drinking plenty of caffeinated syrup water 50 years from now. I don't feel too confident that gold will outperform inflation, as stocks tend to do over time. Perhaps keep up with inflation, but not outdo it.
However, given the continued decimation...