I think it is a good time to invest. I was in the Gold Souk in Dubai and it was absolute chaos with retail investors present em masse to buy gold coins/sovereigns. I am sure in the next 2 years gold will challenge the 2k USD levels per ounce and I believe it is a good time to invest. Have we reached the bottom? That I can't say but you can spread out your investments over the next few months to be on the safe side.