I had an interesting conversation with a lady at work about our companies 401k plan. I told her that I wasn't participating in the 401k and she thought that I was making a mistake. When I brought up Gold and silver she responded as I would expect most people her age to do.
According to Doug Eberhardt who writes articles for the Seeking Alpha website the are 5 main reasons why most people feel the way my co-worker did.
Reason 1: Your Financial Adviser Doesn't Understand Real Diversification, Let Alone How Gold Fits Into a Diversified Portfolio
Reason 2: The Media Is Biased Against Gold and Always Pro-Stocks
Reason 3: Our Education System Teaches Us Nothing About Gold, Let Alone Money
Reason 4: Your Neighbor Probably Won't Tell You They Bought Gold
Reason 5: The Government Has An Incentive to Keep the Lid On Gold
For an in depth explanation on these five reasons you can read his article here: