Well that’s the view of market analyst, Peter Boockvar, who suggests the Fed will now act to lower the value of the U.S dollar in an attempt to make the U.S economy more competitive.

“The three-year bear market in gold, in my opinion, is over, because yesterday in their minutes the Fed officially three their hat in the global-currency war ring.”

To lower the value of a currency Central Banks typically reduce interest rates or inject newly created money into the system via the purchase of sovereign debt in a process known as quantitative easing.

Since the beginning of the economic crises it’s been both a profitable and volatile ride for gold investors. From 2008 the gold price rose from around $800 per ounce to an all-time high of $1,900 in September 2011 before retreating all the way back to $1,280 3 years later.