No matter what your opinion is towards precious metals as an investment, I don't think you can deny the security of having some precious metals actually in your possession (rather than indirectly, like an ETF).
Do I think we're going to see an economic Armageddon? No, but that doesn't mean I don't feel a little bit more at ease knowing that I have some metals in my possession, safely locked away.
Like someone said, gold is pretty pointless if you think about it, but since it's universally accepted as a store of value that's protected against fiat currency, I'm going to hold some. I know the returns will probably be lousy over time compared to equities, especially since it doesn't produce any income, but I consider it more of an ultra-emergency fund than an investment.
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