Dox Coxe writes a lengthy investment newsletter from time to time. He has this recommendation on gold:

3. Gold (the ETF) and precious metals shares should be your primary emphasis on new money investments in commodity stocks. Gold’s price is ultimately headed for quadruple-digits in dollar terms. Remember the rule: buy stocks on the basis of unhedged reserves in the ground in politically-secure areas of the world. Use any earnings-related pullbacks in shares of companies meeting that criterion to increase your exposure.

His other points are to expect inflation to rise significantly, and to buy commodities as a hedge against inflation; his recommended weightings: Energy 33%, Agriculture 25%, Base Metals & Steel 22%
Precious Metals 20%.

SGR fits the precious metals part very well.