Gold was out when the seventies ended, but the loss of confidence in paper money has sent it soaring once more. Investors who missed the metal's recent rise should not despair: There's still plenty time to get in on the action. Here's how.

As gold surges past $1,600 an ounce, it's tempting to start rummaging through your jewelry box to raise cash. But there are other, better ways of making money from rising prices. Read on to find out how -- but first, you should know why gold is spiking, and how the price might change.