Former Federal Reserve Governor, John Exter, once quipped, "The U.S. and world economies are on the threshold of a deflationary crash that will make the 1930s look like a boom. Gold will be the single best investment to own. Buy it now while it's still cheap."

For now, with spot price dips in gold commercial banks, UBS has three takes why now is a good time to get going long gold.

The gold and silver market selloff has begun, the question is how far will it dip.