Tunnel of Love
It was 1987 when Springsteen's "Tunnel of Love" was released. Coincidentally the last time gold was $500/oz was also in 1987. Springsteen's divorce was foreshadowed by songs like "Brilliant Disguise" and "Tunnel of Love". It took until 2001 for gold to return to an upward trend. It is fair to say that neither of these events marked high points. I believe gold has a long ways to go.
I know my personality, I would blow out of a liquid precious metals investment at the first sign of trouble. I also believe that gold is in a long term bull market. I chose to purchase relatively illiquid gold stock warrants (trading on the TSX) that don't expire until 2006-2009 as a way to force myself to stay in the trend. It hasn't been fun but I think there are some 5-10 baggers on my sheets. All I have to do is not sell them.
The National Post provides a great list of resource stock warrants that is regularly updated.