"It's a sea of red, " said Ira Epstein, a director at Linn Group futures brokerage.

WSJ: Gold Plummets to Two-Year Low

Ira Epstein, director of the Ira Epstein division of The Linn Group, who said he sees prices for gold rising, said the rising tensions can be price-supportive.

FORBES: METALS OUTLOOK: Gold May Target $1,800/Oz Next Week

Ira Epstein, director of the Ira Epstein division of The Linn Group, said he believes the inflation debate could be the next catalyst for higher gold prices.

FORBES: METALS OUTLOOK: Gold Prices Could Continue To Rise Next Week