So gold and silver are hedges against inflation, not so much an investment.

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In a nutshell...yes that is correct.

But there is a "possibility" for gold to soar in value...but that may or may not happen in our life times.

You could come up with a new alloy that increases demand for gold (I think they just mixed gold with platinum to make a metal that never wears out)...something like that.

Or if the gold manipulation ended (it wont) then the price of gold could soar.

But those are maybes and ifs.

Edit: Also, even in the event of world wide calamity, gold & silver hold value.

In 5,000 years gold has never gone to zero!

While stocks, bonds, and currencies have fallen to zero...it has never happened to gold.