" And gold has represented a good defense against inflation eroding the value of a stock or bond portfolio. Over time, it has held its value against the dollar. Gold was $20.67 an ounce 100 years ago and that bought a good men’s suit. At $1,200 an ounce, the same is true today."
I would add the same applies to silver as well. In the 60's a 1932 - 1964 Washington quarter would buy the equivalent of one gallon of gas (give or take a few pennies). Today the silver melt value of this same quarter will buy one a gallon of gasoline (give or take a few pennies depending on where one lives). This, given the depressed silver spot prices currently in play!