Do you buy gold stocks, shares or the actual gold? I have resisted buying gold. Fortunately, other hard assets like real estate have done great. I remember when gold hit 850 and silver $40. I think this run up is tied more to the dollar and our deficit, along with failure to reform social security. Of course bombing Iran would likely cause a run up.
Buying major miners or the juniors is not something I'd do if I didn't have a lot of experience. Physical is nice to hold if you have some place to store it, preferrably a home safe.
You can also buy gold on the ETF GLD. The silver ETF should be opening soon (maybe) and will be SLV.
You can also do options and warrants but again, know what you are doing.
I'll buy more PM's on the next shakeout.
CEF: Central Fund of Canada. It is a closed end fund that holds gold and silver bullion.