Should I buy gold or invest in SIP?

Not an either/or — both belong in a balanced portfolio. Equity SIP delivers higher long-run return (12 to 15% historical) with higher volatility. Gold delivers 8 to 11% with lower correlation to equity, acting as a hedge. A common allocation is 70% equity SIP + 10% gold + 20% debt/FD. During market corrections, gold often rises 5 to 15% while equity falls.