Higher highs and higher lows. They may "eat" compared to some well timed flippers and graph stalking day trader/Snyder junkies or whatever, but it is financially irresponsibile not to remain long hedged in metals to at least some (5-10% degree). You can go in and out a little within that range between gyrations, but there is never, ever, a time for total divesture IMO. Volitility can be mitigated by dollar cost averaging in the mean time. Bonds aren't much of a hedge in a currency crisis brought on by debt and unsustainable interest payments that require currency devaluation in the first place.

There is a reason why 100% of all very rich people and nations hedge in gold, 100% of the time, without exception. There is nothing savvy about the middle/upper middle class investor trying to completely avoid the undisputed wealth preservation hedge of all time trying to surf the peaks and valleys.