Just a quick note on this subject. Gold is selling at or near its all-time high. (You can check the current price of gold by using the widget available in the right margin.) Some think that it may go to $2000 or beyond. Others think a bubble is forming, and that if the dollar rallies, the price of gold will decline.
Silver, on the other hand is off its high by about 70%. It may represent a better investment than gold. Some like investing in gold because you can hold it in your hand. OK. You can hold several thousand dollars worth of the stuff in your hand if you want to. If you buy a few thousand dollars worth of silver, you better have some place to put it. Rather than holding the stuff yourself, buying silver through a ETF is probably a better idea. Check out these two on the ETF finder from The Motley Fool on the right margin: CEF or SLV.
Want to invest in a mutual fund? Look at Franklin Gold and Precious Metals - A shares (FKRCX), which invests largely in companies that mine and process gold, palladium, platinum, and silver.
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