in Europe, it's the same kind of calculus [a Lehman-like event]. People feel that there will be a major event. When, is the only question," Leeb said. "And they're a little bit scared to get into gold with both feet until that event is out of the way. So my advice to people is, not buy that conventional wisdom because, it doesn't usually play out the way people think [it will play out].
"But if it does, have a little money in reserve because, any drop you see in gold based on some catastrophe in Europe is probably going to be the greatest buying opportunity of your life. And I'm not really kidding about that."
Leeb is so convinced of gold's meteoric rise following a potential sharp drop in its price that he even suggested buying the precious metal using margin. Source: KWN
Related: SPDR Gold Trust (NYSEARCA:GLD), iShares Silver Trust (NYSEARCA:SLV), iShares Gold Trust (NYSEARCA:IAU), Sprott Physical Gold Trust (NYSEARCA:PHYS), PowerShares DB Gold Double Short ETN (NYSEARCA:DZZ), Market Vectors Gold Miners ETF (NYSEARCA:GDX).
By Dominique de Kevelioc de Bailleul From Beacon Equity Research