A gold investment made before the Fed's October meeting could be the strategic move to make right now. Kenishirotie/Getty Images

If you invested in gold in recent years, chances are good that you benefited from multiple features the precious metal offers.

Depending on when you bought it, you may have realized a significant return on your investment, thanks to the record-breaking price run the metal has experienced. You also probably weathered the economic impacts felt by decades-high inflation in a safer way, thanks to gold's ability to hedge against inflation and diversify portfolios .

But that's all on the assumption that you invested in gold in the right type at the right time. If you didn't, then your portfolio may have suffered right when you needed the protection

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