I put 10% of my portfolio on physical Gold and Silver since >2 years ago and intend to keep it until I see a real bubble on verge of popping. I use goldmoney.com to buy my metals and put it in a vault in London. It acts as an insurance.
We are still a long way to go for bubble. Remember, the dot.com and housing bubble, it kept going up despite all the negative reports and over valuation.
I expect to see similar scenario if gold is in a bubble. We are not even close to it right now. If we are in a bubble, gold should be more than $3000. It may takes another 3-4 years.
Gold is now supported by solid fundamentals. These printing of money cannot go on forever! Most fund managers and traders still see no need to buy gold.