Ken Morrison, editor and founder of online newsletter Morrison on the Markets, agreed with those sentiments.

FORBES: METALS OUTLOOK: Gold Prices Could Correct Next Week, But Trend Remains Up

Ken Morrison, editor and founder of online newsletter, Morrison on the Markets summed up a prevailing bearish view.

FORBES: Survey Participants Expect Higher Prices For Gold Next Week

Ken Morrison, founder and editor of online newsletter, Morrison on the Markets, said since 2009, gold prices have never closed down seven days in a row.

FORBES: METALS OUTLOOK: Gold To Watch The Dollar, Bernanke

Ken Morrison, editor and founder of online newsletter Morrison on the Markets, said while the debt ceiling talks are going on gold is unlikely to sell off.

FORBES: METALS OUTLOOK: Nervousness Regarding Global Economy To Support Gold Next Week

Ken Morrison, editor and founder of online newsletter Morrison on the Markets, said that across commodities, the increase in speculative bullish positions in gold was the most aggressive.

FORBES: FOCUS: Speculators Take Big Long Positions In Gold - CFTC

Ken Morrison, editor and founder of online newsletter Morrison on the Markets, noted the speculative money managers cut about 10% of their long, while commercials essentially took the other side.

FORBES: FOCUS: Speculators Scurry From Precious, Base Metals - CFTC

Ken Morrison, editor of the online newsletter, Morrison on the Markets, pointed out that the rally has come with a steady level of open interest in futures and no change in the net ownership of the SPDR Gold exchange-traded fund (GLD) since Dec. 22.

FORBES: Gold Prices Expected To Fall Next Week -- Survey Participants