I have been pushing health care stocks as a safety area so let's look at a fund specialising there versus the gold price >

Fidelity MSCI Health Care ETFFHLC

Since its inception on October 21, 2013, the Fidelity MSCI Health Care ETF (FHLC) has delivered a total return of approximately 205.33%, translating to an annualized return of about 10.76% .markets.*.com

In comparison, gold has appreciated from around $1,200 per ounce in late 2013 to approximately $3,349 per ounce as of April 24, 2025, marking a gain of about 179% over the same period .Macrotrends

Therefore, FHLC has slightly outperformed gold in terms of total return since its inception.

So ChatGPT puts the verdict in health care for the time being