The approach here is to create a total portfolio that achieves your goals. Wise men said “take care of the downside, and the upside takes care of itself”. Thus, having a nest-egg that is holding actual gold bullion, equivalent to your necessary funds to live, is probably a good place to start.
Then, compose a portfolio of assets: equities, commodities, bonds and other assets that matches your goals.
For the equities portion, I seek to buy the overall stock market. This is achieved by combining multiple ETFs that, in total, create an equal weight in market cap (or size of company), sector and to the extent possible, style. Geographic diversification is achieved principally through a separate allocation.
More to come via an interactive tool to establish portfolio construction.