Gold is the instrument of choice for growth investor with inflation fears (i.e. it's rumored to hold its value when inflation speeds up). It is not free to own in large quantities, as one must incur additional storage and security costs.

Real estate is the instrument of choice for income investor with inflation fears (i.e. if all goes bad, you can still rent it out, and that rent will still bring something). Through successful lobbying it's relatively cheap to own if you buy in a state with low property taxes.