I am in the alternative investments field and there is definitely a visible trend for hedge funds to get in the precious metals...

Here is one of the articles coming into my inbox today:

Touradji Bets On Gold Rush

August 4, 2009 Paul Touradji is joining the hedge fund gold rush. Touradji Capital Management is the latest hedge fund to plunk down a sizable chunk of its assets on the precious metal, or a reasonable facsimile thereof.
The New York-based commodity hedge fund shop in the second quarter amassed $11.5 million worth of an exchange-traded fund backed by gold bullion, the SPDR Gold Trust. The Investment amounts to more than half of Touradji’s equity portfolio, admittedly a very small part of his $2.7 billion portfolio.
Paulson & Co., Greenlight Capital and Third Point have also recently made big bets on gold, gold derivatives or gold producers.
According to regulatory filings, Touradji had just $22.4 million in equity holdings. The firm liquidated most of its holdings, going 80% into cash, in the second half of last year.