Many experts have said that the loss is mostly technical.

The fall in gold could have something to do with the retail sales numbers in the United States. Sales dropped 0.4 percent last
month, according to the US Commerce Department. Wholesale prices also fell 0.6 percent in March as well.

Consumer sentiment also fell to a nine month low as Americans seemed to grow pessimistic about the state and future of the economy. Consumer sentiment went from 78.6 to 72.3 in April.

Visit www.thebullionbank.com for all of your gold and silver needs.

Visit www.bullionreport.com for up to the minute news about the precious metals market.

The price of the yellow metal could be flat and even lower in the next two to three years, according to Christian. He cited change in investor’s attitudes.

Originally, people were bidding up the price of gold from 2008-2011 due to fears of a financial catastrophe, but now Christian is suggesting that investors be more price sensitive towards gold.

“What I need to worry about is not an imminent financial collapse,” said Christian. “What I need to worry about is the long period of low growth, high unemployment, low interest rates, low inflation. Sort of what we’ve been having for the last two or three years.”

Christian believes people will cycle out of gold and then come back in, pushing prices to record highs.

“The record price will come because none of the stuff is being resolved,” said Christian. “It’s just being pushed further out.
Three of four years down the road we think you will probably have another recession in the United States.”

The Federal Reserve reiterated that they will continue their quantitative easing policies and keep interest rates near zero, even though the economy seems to be doing better.

Another reason for the spike in gold prices is because the number of Americans that filed for unemployment rose by 2,000 last week, according to the U.S. Department of Labor.

After Cyprus turned down an initial bailout attempt, the European Central Bank is now threating to withdrawal support for the country’s banking sector if a new agreement isn’t made by Monday.

Cyprus now plans to start an investment fund to raise 5.8 billion euros to be able to get an international bailout. The country rejected the initial plan to tax deposit holders.

Visit www.thebullionbank.com for all of your gold and silver needs.

Visit www.bullionreport.com for up to the minute news about the precious metals market.

Hiring picked up in February and the U.S. economy added 236,000 jobs, according to the Department of Labor.

Unemployment fell to 7.7 percent, which is the lowest level since December of 2008.

Along with those numbers, private sector pay rose 0.6 percent, which means people are working more hours at a higher wage.

The construction industry also added 48,000 jobs in February and has added 135,000 the last four months. This could be a sign of furthur economic growth due to the fact that this sector was one of the hardest hit in the 2008 recession.

For all of your gold and silver needs visit www.thebullionbank.com

For up to the minute news about gold and other precious metals visit www.bullionreport.com.

The GDP of the U.S. was revised up to 0.1 percent, but came in at 0.5 percent of growth, which was below original expectations.

Another reason gold is down today is because 85 billion worth of spending cuts are set to take place on March 1 if lawmakers in Washington can’t come to an agreement.

Keep a watchful eye on Washington to see what happens with the sequester.

Visit www.thebullionbank.comfor all of your gold and silver needs.

Also visit www.bullionreport.com for up to the minute news in the precious metals market.

The total of new jobless claims fell by 5,000 to 330,000, according to the United States Labor Department. That is the lowest level since 2008.

With the possibility of an improving economy, some economic experts think the Federal Reserve might back off of quantitative easing sooner rather than later.

The move in the Dollar Index is also why gold is lower today.

The Dollar is over the 80 level, which seems to be a key spot, according to Frank Lesh, a broker and futures analyst with FuturePath Trading. Historically, gold moves inversely to the Dollar.

“That seems to be a pivotal spot for the dollar index,” said Lesh.

Visit www.thebullionbank.comfor all of your gold and silver needs.

Gold sales from the U.S. Mint have been strong for the first month of the New Year. According to the U.S. Mint, 113,000 ounces of gold coins have been sold so far in the month of January.

The U.S. Mint has already sold 5.1 million ounces of silver, which is the highest figure in the last 12 months.

Germany is beginning the process of bringing home 11 percent of their total reserve of gold, which is stored in the United States and France.

This seems to be just a precaution in case of some sort of currency crisis.

They plan to bring home 674 tons of gold by the year 2020. At the current market rate, that is $36 billion.

For all of your gold and silver needs visit www.thebullionbank.com.

According to the Department of Labor, 155,000 jobs were added in December. Overall, 1.8 million jobs were added in 2012, which is right around the same number for 2011.

Another reason for the drop in gold prices is because of the release of the last Federal Open Market Committee minutes from their December meeting.

In the minutes, there seemed to be increasing concern over all of the monetary easing that has been happening of late. Because of this, the Dollar went higher, which brought gold down.

Visit www.thebullionbank.com for all of your gold and silver needs.

The U.S. economy grew at a rate of 3.1 percent in the third quarter, according to the Commerce Department. That is higher than the 2.7 percent pace of last month.

The housing market also exceeded expectations as well.

Home sales jumped 5.9 percent in November and are expected to makes gains in the upcoming year.

Lawmakers in Washington are still debating over the fast approaching fiscal cliff. If they do not come to an agreement, $600 billion in tax hikes and spending cuts will take effect starting at the first of the year.

Visit www.thebullionbank.com for all of your gold and silver needs.

The United States economy added 146,000 jobs in November, which was more than expected. Unemployment fell to 7.7 percent, according to the U.S. Labor Department. This is the lowest unemployment rate since 2008.

Keep an eye out for the Federal Reserve meeting which will be held next week to see news about the possibility of further monetary easing and to see the direction of gold.

Visit www.thebullionbank.com for all of your gold and silver needs.