I don't mean that no one should invest in gold.

For most of us as a working class investor, gold is not suitable for most our retirement investment goal.  Gold is an asset class, but it does not generate any income.  Investing in gold is a speculative play to wait for its appreciation, not like investment in real estate, bond or dividend paying stock.  But if you are high net worth investor, I would think that you will need to invest in gold.  As matter of fact, I would buy gold bars and store them in some safe storage place.