The next boom will be at least 10 years away. Unless the land...

The next boom will be at least 10 years away. Unless the land you are currently holding is approached by developers, you will probably sit on the ice for a very long time. There is a large holding cost for parking money in the land - land tax, council rate and wear and tear if you have an old house sitting on it. The return is very low and with investment loan interest rate is projected to increase, investment in land now may not provide a good return in the short term.

On the hand, gold has negligible holding cost and Gold has been projected to increase in value in the current financial turmoil. Once China starts to sell down US bond, you would probably see the value elevated to new heights.