Gold price drop spurs demand

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Gold prices last week took a hit after a 12-year bull run and now investors are scrambling to buy up as much as they can get their hands on.

Global gold prices have been in a downward trend since October and are down about 20% this year. On Monday, Gold plunged about 10% ending the session around $1350, down around 30% from its highs, to its lowest level in over two years. Europe got the ball rolling last week when Cyprus bowed to pressure from the EU, ECB, and IMF and sold $500 million of its gold reserves.

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Goldman Sachs also recommended to investors that they should sell gold because the turn in the gold cycle was speeding up.

Looks like central bankers in the US and Europe want to make sure that the dollar and euro remain the world's reserve currencies. Have we seen an end to monetary easing and inflation? If not, it might be a good time to get that gold grill you've always wanted.

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