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It is still an excellent time to buy pure physical Gold, or Gold mining stocks or even Gold Funds/ETFs. For an illustration, look at these two charts.  (They are from early 2007, the latest news will reflect the same trend.)

The Red Line in Chart 1 shows how far Gold per Ounce needs to rise 'just' to reach its 1980 high in today's Dollars. And Chart 2 shows that the price of Gold is now rising even faster than at any time in the past decade (i.e. after hitting a low of $250/ounce in 1999). I would not be surprised to see Gold at $1000/ounce this year, and surpass its inflation adjusted high of $2100/ounce sometime in the next few years… I'd say this would be a much better place to park some money than nearly any other investment.  If nothing else, Gold will 'hold' its value vs. any currency, and should give good appreciation vs. the Greenback (USD).  By at least holding its value, gold will allow you to buy the same amount of goods you can buy now, whether the prices of all other goods rise OR fall.

The major cause of this rise in the price of Gold is all the excess money that has been 'printed' by every country over the last 7 years.  And when I say 'printed', I literally mean, created out of thin air, without the necessary increase in goods and services to keep prices low.  Think inflation in America is really at 3%??  Have you bought a gallon of milk recently?  Or have you filled your car recently?  US Gas prices (that's petrol for non-North Americans) will possibly average $4.00 nationally by the end of the year.  And Labor Day is already OVER!

Gold falls and rises with the amount of money in circulation, and since the entire world is currently awash with money (this will not continue forever), gold is currently on an upswing.  Currently we are in a relatively 'safe' environment, no major terrorist attacks on the Industrialized Nations, no major natural disasters, no loud noises from Oil-producing nations, and the sub-prime mess in August was only a teaser to the real mess that's waiting for us next year.   With Gold's traditional safe haven status, think what will happen to its price if, God forbid, something DOES happen….

So Don't think, just get Gold!

btw, if you want to find out more about this inflation-adjusted dollars business, check out the US Bureau of Labor Statistics (BLS) Consumer Price Index (CPI) Calculator.  Just enter what the price of something would have been in an earlier year, and what year you want its inflation-adjusted price for.
Example: Enter $850 and select 1980 for the year and price of Gold's All-time high.  You'll get $2144.77, THREE times higher than today's price.

And if you'll look back now at the first chart, you'll see that the price rises VERY QUICKLY, and there's no way to predict 'exactly' when this will happen, though it could happen any time.