No.
How is that for an answer..???
Gold can be a good way to protect and preserve wealth, but it rarely generates wealth. If you are worried about the inflationary aspects of a recessionary economy, or a devalued currency gold helps ensure your purchasing power tomorrow is similar to what it is today. Unfortuantely, buying actual gold (bars, etc) tends to be expensive, and a general pain in the ass. You pay a premium over the spot price, and its hard to get rid off. Ever see anyonw try to pay for $200 in gas with a 1/2 ounce of bullion? I didn;t think so...
Gold is an emotional thing. It's cold, hard and pretty, and its nice to fondle. But it is not a liguid investment. If you run out and buy $20,000 in gold coins, you are going to get stuck with those damned premiums. If gold prices are $440/ounce, you will NOT pay $440/ounce. You'll pay $440 per each one ounce bar, PLUS another $20 or $30 in premiums. Gold prices then have to run up over $460,$470 just to break even. And unless you plan on a bigtime barter operation, you'll have to find some way to reconvertt from bullion to money later.
If you want to capitalize on gold, consider gold "paper". Buy stock in a company that "makes" gold (a mine). For example, I have some modest gold holdings in one company. Share price has gone from $13 to 18 in three months. I get dividends. The compnay in question has a per ounce cost of about $120 an ounce, and gold sells for $440 and ounce. Its hard to NOT make money under those circumstances. If inflationary pressures tank the dollar, US dollar prices for gold will spike. That same company will be mineing gold it can sell for $550, 600 an ounce. My share price goes up....
Yup. You could buy $20,000in gold at $440 an ounce today. It's possible it could be worth $200000 in a decade. Its not likely. Gold was a $150-200 ounce commodity until it shot up $800 during the late 80's. It dropped and has stayed low since. Lots of people bought in at $500, 600, $700 and ounce back then (twenty years ago) and thought it could be worth $200000 in ten years. Their twenty year, twenty thousand dollar investment is still 'under water'.