Some financial commentators have speculated that bitcoin and other virtual currencies have captured a portion of funds that would have been invested in gold. I find it a bit ironic that people who invest in precious metals would even consider another fiat currency.

...we believe that these measures will also lead to diminished profitability, diminished tax revenues and, therefore, increasing calls for massive new economic stimulation which again, by historic standards, could well work to the benefit of the precious metals.

…At present we may be entering a period of relative stability on many economic fronts and, therefore, our focus is now trending more toward social upheaval and the resultant increase in tensions as the prime movers for the precious metals.