yep... the good thing about UT, some funds - some years they are on steroids going up, some years they go south.

For me, UT is long term - 20-30 years.. no emotion just use DCA.
just like what Xuzen mentioned, UT is more of "preserve wealth"

Gold in my humble opinion is to hedge against inflation.
Growing capital will be stocks, equities... however, there are risk... as long you can manage the risk, then these asset class can be used to grow the capital.. else the capital will depreciate.
As for UT, it will be preserving wealth in my opinion.

Different people may have different views on these asset class. It depends on your goals, risk appetite, and other factors.