Since the metal last peaked in 2011, gold prices have pulled back significantly and have languished in limbo – trading between the $1,550 and $1,600 range for over the last 3 months.
But that’s all about to change.
Thanks to a recent announcement that has HUGE implications, a new door of opportunity has just been flung wide open for gold.
This could be the catalyst that drives gold prices right back through to record levels.
And as you’ll see later, this couldn’t have come at a better time for investors looking to profit from an increase in the price of gold.
The Day That Europe Caved
On July 26, European Central Bank President Mario Draghi announced that he would do “whatever it takes” to preserve the euro.
He then followed this up with a more official statement that the ECB “may undertake outright open market operations of a size adequate to reach its objective.”
In other words, he admits that the Eurozone’s debt crisis has reached unsustainable heights, and its 17-nation membership is set to topple like dominoes unless drastic measures are taken.
This comes as no surprise considering nations like Spain and Greece are already on the verge of collapse, with other countries not far behind — but it does have strong implications for gold prices.
And while no one knows what the final casualty count will be after it’s all said and done, one thing’s for certain…
The bank has finally caved.
Now they’re gearing up to buy more bonds to lower the borrowing costs of struggling governments.
This ultimately means that the ECB will be forced to print more money. And that, my friends, is why it’s time to buy in now. Gold prices are about to rise.
Fire Up the Printing Presses
You see, if the ECB starts printing more money, it will devalue the Euro relative to gold and set the stage for gold prices to shoot back up to astronomical levels.
But what’s the time frame for all of this unfolding? Will gold prices surge to new highs quickly, or will economic uncertainty keep a lid on price escalation? Better yet, what will be the fate of fiat currencies around the world as we continue to inject money into various economies?
Answers to these questions are impossible to predict.
But I can say for certain that many investors feel that a gold standard is inevitable as the dollar and the euro undergo the same treatment of value destruction.
Gold prices are up just over 3% this year. I believe the serious gains will come in the weeks and months ahead and it would be prudent to act now – while there’s still time.
You could gain exposure to the market with the ultra-popular SPDR Gold Trust (GLD), or one of the many other ETF products out there. Or, you may prefer physical bullion and the safety it can provide.
I prefer gold stocks because of their awesome power to leverage gold prices for maximum gains.
Either way one thing is certain, if central banks around the world continue to print money at will, the odds of gold making another historic run are very good.
It’s time to load up.
for Top Stock Millionaire