My stance towards gold is this. You should buy every month a little bit and become your own central bank because you can't trust central banks anymore to act responsibly and maintain the function of paper money as a store for value. So, you want your own reserve.
Can gold go down and revisit 700 dollars per ounce? Possible. We went down following March 2008 peak from over 1000 dollars per ounce to less than 700 dollars per ounce, and now we bounce back and will have a lot of volatility. Gold is relatively expensive compared to industrial commodities.
