“The decline should be considered as the turning point of the growth trend in which gold (like all precious metals) were from the beginning of January. Increasing investor interest in risky assets will inevitably put pressure on the gold market to push it down. Given the low production cost compared to current gold pricesand the long-term downward trend started in the autumn 2011, itis likely to see the price near $1,200 per ounce or even lower (even down to 1,100)”, - said Andrei Khokhrin, Director of Sales at ITinvest.
Source: Finmarket finmarket.ru