Gold would be a good hedge and I agree with you it is not one to park substantial amount- even though I feel it can go higher to USD1800-1900/oz. With regards to property , my personal opinion is that land values over time will only go higher but it is the land that counts not the building so landed property is better ; however property can be highly rewarding and high risk at the same time due to the sheer capital involve , you buy one wrong (poor location) and you're done for and your investment is tied down and you cannot be nimble - its all down to making the right decision to buy at the right time- the ones you hear prosper in property buy them at the right time , and unlike shares you cannot do dollar cost averaging or do stop losses etc, one wrong move and you may have to wait out a long time to recover. Is it the right time? On the one hand low interest rates help but on the other, more unemployment going forwards won't and if there is no exuberance, no one would chase prices higher. There lies the value of cash - the hyena looking for bargain(s) as they present themselves- patience is needed. Another way to get into property could be property income funds - you can have exposure to commercial and healthcare buildings earning higher yields with capital appreciation (more modest now) - without getting capital tied down, but with funds, you have redemption risk. So nothing is perfect- just the lesser of the evils.
