I have often noted the fallacy of buying gold to fit a narrative. It's thought to be an inflation hedge but there's no real correlation. It's a place of safety during global conflict or meltdown. But that hasn't happened. Gold seems to be good for one thing -- trading.
It does a good job of following technical patterns in the long and short run. If you are more long-run inclined and getting pressure to buy gold, there's a way to do it on the cheap -- sell silver to fund your trade.
GLD Vs. SLV
The chart above shows two longer-term views of gold's ratio to silver, and both look positive, despite having already seen long runs. The first is the series of horizontal lines, or Fibonacci retracements. The ratio made a high in late 2008 and a low in 2011. Since then, it has retraced almost 88.6% of the move. If you want, wait for a move over that 88.6% level to follow it to a full retracement. The second series of angled lines make up an Andrews Pitchfork, which shows the ratio closely following the path higher between the the Median line and a 50% line parallel to that median line.
The point is, the trend is higher.