The gold price is heading down towards the $1,200 mark in today’s trading and some analysts are saying now is the time to get into the precious metal.

The price has now fallen around $100  over the last month as investors piled into the US dollar in anticipation of higher interest rates which  makes gold a less attractive investment.

The amount of rate rises from the US Federal Reserve remain questionable and the market is beginning to believe there won’t be as many as earlier expected,

"The pullback in gold has coincided with the rise in U.S real yields to the year's highs as well as the sharp increase in real yields in Europe to the highest levels in more than a year," UBS analysts said in a note.

    "Gold should recover from this latest pullback as the move higher in real rates is unlikely to be sustained and we see longer-term value around these levels." They added.

It seems also that investors have overlooked the political tensions going on around the world at the moment such as North Korea, Syria and Iran and should any of these come to the forefront, gold is likely to to push significantly higher,

"Gold still remains a very good hedge towards event risks and with key events like the escalation of tensions in the Middle East, or the sabre rattling between the U.S. and North Korea, we think that gold has potential to spike upwards should any of these tail events come to the fore," noted Nitesh Shah, commodities strategist at ETF Securities