(I prefer silver because it has actual valuable uses besides jewelery and from my research there is less available ounces of silver then gold because of it)...Do your own DD
Calling gold and silver "insurance policies" overstates their value in that they would be most suited for dire circumstances after a general collapse when cash is no longer accepted. If that ever happens though, food, water, guns, and ammo would likely often be more valuable in trade than gold and silver.
Even better would be living in a defensible rural home with family and reliable neighbors, and a working garden, greenhouse, chickens and goats and perhaps beef, well water, a stock of gasoline, and EMP hardened off the grid solar electric power. After a general collapse, it would take a lot of gold and silver to buy that, and reliable men with guns to hold it.