Gold price crash, March 24 -- The gold prices have eased significantly from their all-time high levels. They have not only erased all the gains amassed in the ongoing calendar year, but also entered the bear territory. However, this cooling off in prices could set the stage for gold to cross above the $11,000 mark, predicts Peter Schiff, Chief Economist & Global Strategist at Europac.

His optimism stems from the trend last seen during the 2008 global financial crisis (GFC), when the bullion, like this time, melted and acted against its nature of safe-haven edge amid geopolitical and macroeconomic crisis.

US spot gold prices hit a low of $4,098.87 in the last trading session on Monday, March 23, spooked by inflation fears amid rising cru...