Gold becoming the unofficial reserve currency again as people lose faith in the US Dollar

Central Banks turn to Gold as a safe Heaven , we likely going to see another round of Quantitative Easing and further weakness of the dollar , there is a crisis of confidence in the US government and in the currency , we are not seeing that immediately in the bonds as a flight to safety , what we are seeing is Gold becoming the unofficial reserve currency again as people lose faith in the US Dollar , this story is not going to end here at !700 we are going to see further strength in the price of Gold , Gold is under invested in portfolios , Gold represents a very small portion of China's foreign reserve exchange and that's likely to grow so they will use any weakness in the gold price to step in as well as other central banks across the globe says Steve O'Hanna, Investment Manager at Fat Prophets Funds Management