Gold sometimes predicts what is about to happen. Could it be we are about to enter a spiralling deflation phase sucking everything down with it? It wouldn't matter if it did because your gold maintains its purchasing power.
-------- Gold does maintain purchasing power.
In 1980 you required 100 ounces to buy a house in Sydney, now you require 521 ounces. And that excludes the rent the house would have generated in the meantime.