"The more liquidity that is put in the system, the higher goes the gold price," he said. Murenbeeld also speculates that inflation in emerging markets, especially in India and China, almost 10% and 6.1% respectively, will also push prices higher. Lastly, the U.S. dollar is fundamentally weak, which means central banks might want to diversify out of dollars into gold. That trend has already been seen as central banks have become net buyers of gold rather than net sellers. Murenbeeld says that central banks could collateralize their gold. PIIGS -- Portugal, Ireland, Italy, Greece and Spain -- collectively own 3,000 tons of gold. Italy, which owns the most at 2,400 tons, has a history of using gold as collateral. "I don't think the gold will come on the market but that it will be collateralized." Tongue and cheek, Murenbeeld speculates this could be a way to get China interested in helping Eurozone countries, swapping gold for cash. Murenbeeld also thinks that politicians will actively try to devalue the U.S. dollar to spur growth. He points to the recent trade bill that just passed the Senate, which raises taxes on imports based how undervalued the foreign currency is deemed to be -- a direct slap at China's weak yuan. Murenbeeld also speculates that the Federal Reserve will have to pump more money into the system, perhaps by buying more mortgaged backed securities. The one risk for a higher gold price, says Murenbeeld, is a recession. Mureenbeeld says gold doesn't do well in recessions as mass liquidation strikes all assets. But gold does well during the time after a recession when politicians desperately try to jumpstart the economy.