Not just gold either, but other commodities as well. A lot of investors will try to keep the value of their investments safe by switching many of their holdings to gold and other precious metals.
Lately it's been easy to tell what many investors think about the state of the economy since gold prices continue to rise. The price of gold, as with other commodities, is tied to supply and demand. The ever increasing prices of gold is an indication that demand is high. That is in direct correlation to the fact that the value of the dollar is falling.
Many investors are still buying gold even though the prices are at an all time high, which goes against the wisdom of buying low and selling high. Many believe that gold will continue to rise for the foreseeable future.