From this site (link above), the S+P 500 is one of the few categories that have actually done better than gold over time, albeit with a lot of volatilty. Temporary factors have included that the gold price was artificially 'fixed' during the Breton Woods period (1944-71), which threw off the comparison for a while. Also, there was the 'King Dollar' period of Petrodollar dominance, and then the stock Dotcom market bubble and subsequent crash, which created temporary divergences between gold and the S+P 500. Then the arrival of gold ETFs like GLD was another factor in getting the big gold price surge going. But bottom line, the S+P 500 has done ~ 3 fold better than gold since 1950.
Timberland (since 1987) and farmland (since 1992) have also done better than gold, as has iron ore, with uranium and palladium ~ flat. Silver and platinum have lagged gold by a lot. US home prices have been ~ flat when priced in gold.
But just about every other category has lagged gold by a huge amount, especially bonds, cash. So the lesson is -- in addition to having a paid-for home, have some gold. If you have a business, then own the building / office suite if possible. For the long term, the S+P 500 has beaten gold by 3 fold, but be prepared to weather the volatility / crashes. Owning / investing in timberland and farmland could be another possibility. Owning some fine art might be another category.
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