Jeffrey Nichols Says Gold Good Value Right Now

The current fall was prompted by panic selling, and a price of $1,130 is low enough to spark bargain buying in Asia: that's Jeffrey Nichols' take on the gold market right now.

"There is good support under these levels from the main Asian markets – China and India – where current prices should engender price-sensitive buying. In addition, we are at a seasonally important time for the Indian market ahead of the propitious May wedding period. Bullion traders and jewelry manufacturers stepped up their buying earlier this month – and I expect we'll see still more buying at recent prices."

Nichols also expects gold to keep going higher as inflation settles in.