http://finance.yahoo.com/banking-budget ... et=&ccode=
It talks about what type of investments the wealthiest people have. They don't seem to invest heavily in gold:
The rest of their portfolio is surprisingly PP-like:All that talk about a big gold bubble? It's a bunch of hooey.
According to the latest survey, the rich are keeping just 5% of their money in "alternative investments" — from gold and commodities to hedge funds. That's down from a peak of 10% in 2006, and lower even than the 6% seen at the end of 2009.
The core of the rich portfolio is surprisingly conservative. The wealthy have, on average, 43% of their holdings in low-risk assets. That's 29% bonds and a thumping 14% in cash. So much for the idea that the more you have, the more risk you can take. (It matters, of course, that the rich are typically much older than the rest of us, and are therefore more likely to be risk-averse for that reason.)
They still only have 33% of their money in equities — a slow climb back from the 25% lows seen at the end of 2008. Ominously, while that 33% figure does not seem very high, it nonetheless equals the levels seen just before the crash. And the rich told surveys that they are planning to ramp up their equity holdings pretty substantially this year.