bought my first 1 ounce gold bar what a mistake

[wrcmad]

How so ?

An each way bet is non-committal. It is not a bet... it is a compromise.
It says - "I don't really like this strongly enough to win so I'll back it each-way instead,".

i still don't get your point about it being for the uninformed.
Is somebody who owns multiple asset classes (property, shares and PMs) only doing so because they are uninformed ?
I would consider it an acknowledgment that the future is unpredictable.
It might not be your exact definition of hedging but it is still hedging.

Fair enough. Uninformed may not have been the exact word I would have chosen, given the original context was an each-way bet between gold & silver.
However, IMHO, to scatter your hard-earned across multiple asset classes solely for the sake of doing so (alias diversification) is a sure tell-tale sign of uninformedness. (new word)