The European Banking system is falling apart, look at greece in its great depression and Spain getting there second bailout.
all these foreseen situations will boost Gold’s status as a safe asset.
Hyperinflation is just around the corner, its amazing how people are so influenced by the media and since precious metals have been getting a slating lately, people sell when the prices go down, wake up people this is the time to buy, gold is money, thats why they sell when the price is falling, they dont understand the concept that gold is money, it holds it purchasing value, where as currencies dollar and euro for example are losing there buying value and are headed for collapse,
so I hope you understand that its either Gold or paper, now what would you pick , so the current price is not important, you just need to own some gold, below is a video where James Turk is interviewing John Embry, this interview is a must watch, it always is when these two get together.
The way they see it long before the Bull market reaches its end people wont sell gold they will exchange gold for other productive assets. take the time to watch this interview, its reassuring to know that gold is still a great investment and it will continue to be for a long time to come.
these are interesting times with Greece going to the polls tomorrow, People are getting nervous, wether they should have there money in the bank,Greek have withdrawn millions of Euros from there banks over the last few weeks and have moved them to swiss accounts, all this because a lot believe that Greece could be returning to the drachma. when you have gold you dont let this bother you so much, but either way its Europe is a very bad situation, which could have dire consequences on the world economy.