Owning materials and agricultural ETFs, say the iShares S&P North American Natural Resources Sector Fund (NYSEArca:IGE) or the Market Vectors Agribusiness ETF (NYSEArca:MOO), makes a whole lot of sense too. When I talk about inflation, I'm not waiting for the CPI to print some scary high number or for bond yields to head through the ceiling, though that day may well arrive before long. To that extent, gold-related securities like State Street's SPDR Gold Shares (NYSEArca:GLD) are just one piece of preparing for the next big wave of rising commodities prices.