Not a good choice for weak hands

Always expect 30% correction or more, maybe couple of times in a year. so rule #1, do not leverage !

if you speculates on gold, you are betting against central banks and government, you run much more risks than supply&demand. so holding a paper symbol like GLD is not a good option especially when you are proven right.

if you really think you have to hedge inflation and willing to take the risk. the best option will be taking some of your money out of system as physical gold.