Gold prices are at historic highs and this week topped $1,000 an ounce after another rally.
Traditionally, investors have viewed gold as a "safe haven" in times of economic uncertainty.
And now, a rapidly growing market for gold in China is further fuelling the prices.
Some people wanting to take advantage of the high price are selling their own jewellery for scrap - but how good are the deals being offered on TV or by high-street jewellers?
Others may think now is still the time to buy, rather than sell gold. Paul Lewis talked to Justin Urquhart Stewart of Seven Investment Management about the options available to investors.
And Paul visited a gold factory - Baird & Co - where scrap precious metal is bought and then turned into re-saleable jewellery and investment bars.
This item was first broadcast on Radio 4's Money Box on Saturday, 12 September 2009.