Europeans trying to protect their wealth from global economic uncertainty have been stashing bank cash and gold bullion coins and bars in safety deposit boxes and depositories in Switzerland.

Monetary stimulus by central banks and governments is bullish for gold, which has been a favorite among hedge fund managers and institutional investors

For the first time, unencumbered gold bullion is to be classified as zero risk, in line with dollar cash, US Treasuries and other explicitly government-guaranteed assets

This will likely help gold be seen more as a true safe-haven in financial markets and further drive gold bullion demand, which is already at historic highs among central banks.

With regard to price Powell said that he does not make predictions but he wonders “what the value or the price of gold will be if the world ever discovers that 80% of the gold that it thinks it owns – does not exist.”

While the misdirected financial world tell you that gold is in a bubble and it has burst, the central bankers and government organizations all know it is far from over.

“Stocks weak everywhere, gold getting more buyers as economic problems and stress wherever the investor turns, so gold and the dollar are the havens.”

Some of the world’s biggest banks were downgraded Thursday by rating agency Moody’s, which cited concerns about the stability of the global financial system.

As demand increases exponentially, gold is liable to skyrocket in price – it may go anywhere between $1,900 and an unprecedented $8,500

The Fed’s decision to extend its “Operation Twist” economic stimulus program represents the path of least resistance for a central bank contemplating a raft of economic troubles, including a financial crisis in Europe and a weakening U.S. economy, analysts say.