Investing in Gold and Silver?

With the economy looking really bad a lot of people are suggesting to invest in Gold and Silver. However, is it too late to invest since the price is so high now? It wasn’t a good idea to buy dot com stocks in 2000 and it wasn’t a good idea to buy homes in 2006.

So are Gold and Silver still good investments or are there other investments to look into (agriculture, other currencies Euro, Swiss Franc)?