Gold, like commodities, is one place where investors will occasionally park money when sitting out stock market volitility... especially in times of inflation, when gold holders really make out
Buying a bar of boullion isn't the way to get into gold. There are several equity traded funds, like SPDR GLD, where you can buy into gold without physically holding it. I think it's currently trading around $70.. ETFs like SPDRs are easy to buy and sell like stocks, so it makes better sense for the casual investor.
Gold will only get you rich if you find some digging in your back yard, but having a small amount to round out a portfolio gives you some inflation proection.