Once a sure-fire safe buy, gold now confounds market watchers. The precious metal is at a six-week low -- trading at about $643 Monday -- and has extended last week’s slide. Are these low prices a buying opportunity or a red flag? George Gero, vice president of Global Futures at RBC Capital Markets, and Jon Nadler, analyst with Kitco Bullion Dealers, appeared on "Morning Call" to debate whether gold has lost its safe-haven status.
Gero expects to see a gold rally within the next few weeks and says the "issues impacting gold right now will not detract from long-term value." Gero thinks gold can reach $700 by the end of the year, adding that "gold buyers are most interested in hedging against inflation."