Nicholas Brooks, head of research and investment strategy for ETF Securities, believes that bargain hunters are already coming into the market.

He reports that their physically backed ETF, ETFS Gold Trust(SGOL Quote), is actually seeing heavy inflows. "Whether it's because the gold is held in Switzerland or for other reasons...but basically we have been seeing strong flows on that front." Nick believes investors are still bullish on gold for the long term even if gold continues to correct.

Posted today at12:09