Gold is insurance against down markets, not a long term investment. When the market takes a header like the dot com bust, GFC and COVID, cash in the insurance (sell) and buy the market at a discount. A 25% correction in the S&P 500 (5,250) is where to cash in part of the insurance and buy the S&P. At 40% correction (4,200), cash in more of your insurance policy and buy more S&P 500. Over the ensuing years, rebalance by selling S&P and buying insurance. The recent market hasn't hit any of the execution thresholds.

Substituting managed futures contracts for a portion of gold will generate yield while holding the insurance. CTA and DBMF are two worth consideration.

I'm amused by the "all in" attitudes on investments that are balancing mechanisms in a well constructed portfolio. Don't let the dopamine rush kill your portfolio. My technique involves relatively small accounts at Tradestation, Robinhood and Coinbase where I can chase dopamine. The real stuff is at a different institution or a deed recorded at the county away from the thrill of the chase.