My retirement portfolio consists of stocks and bonds, primarily because my employer 401k doesn’t have any other option other than those. My IRA account has some investment in GLD (SPDR gold ETF). Later in this post, find the image with last three years performance of this ETF. Gold and silver during recession performs better.
Definitely better than any stocks in my IRA portfolio. As the recession fear grows, this ETF and similar ones would tend to perform even better. People do buy bullion more during or approaching a recession.