Former Congressman Ron Paul has stated he is concerned about the "erraticness" of the dollar and also said he has reservations over the virtual currency Bitcoin.
Mr Paul, who is rumoured to be preparing to run for the White House in 2016, stated the dollar could be devalued by the monetary policy of printing more money.
In an interview with Bloomberg, he said: "If people think the gold price [going] up and down is a reflection of something wrong with gold, no, I say it is something wrong with the dollar."
Mr Paul also noted how many people have been expressing concerns over the past couple of months about gold, but pointed out the value of the commodity has always been unpredictable.
Alan Demby, founder of the Scoin Shop chain, recently stated the drop in the price of gold has been seen as a "tremendous" buying opportunity by some investors.
He told the Daily Telegraph demand for the precious metal has shot up in recent weeks.
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