I do the same, and my equities are up almost 300% over the same period gold is up only 100%.
The thinking with holding metals and gems and whatnot, is that they have intrinsic value, so if the bottom falls out of the market, and your broker goes tits-up, you still have some savings you can use anywhere in the world. Something like portable real estate.
More of a hedge than anything else. My wife loves gold, so I can buy her something nice, and she wears it for a few days and them puts it in the safety box and I add it to the list.