So this is all about risk management then. It’s a bit like do you you want all your share portfolio in one stock, half a dozen or more? Read many investment books and they will quote you some aspect of asset diversification, which is essentially what you’re suggesting.
When you think about it, buying precious metals, is the same as buying several stocks, rather than having all your eggs in one basket. You might also consider property and that could yield rental income, go further and it could be collecting art, fine wines, vintage cars etc. Effectively just like individual sectors or stock markets around the world, different commodities, real estate or any type of collectibles can have bull/bear markets at different times. What you suggest gives you an opportunity diversify your risk.
Personally I was heavily weighted to property, land and shares but I’m inching up my P.M holdings, with an eventual aim to have between 5-10% invested in Physical assets. Partly for fun, partly just something else to protect wealth, pretty much along the lines of what @dickersuggests above.