As Time Magazine notes:
Traditionally, gold has been a store of value when citizens do not trust their government politically or economically.
Given that trust in governments all over the world is plummeting due to corruption and mismanagement of the financial crisis, that bodes well for gold.
Note 1: As Time also points out:
The sheer amount of speculation in gold and uncertainty in the foreign-exchange market will keep gold prices as volatile and unpredictable (i.e., risky) as ever. Like any financial market, the gold market is susceptible to manipulation.
Note 2: I am not an investment advisor and this should not be taken as investment advice.