Gold suffered a nasty fall last Wednesday. It slid by almost $100 to around $1,700 an ounce, and this week it fell further on technical selling: its slide triggered automatic sell orders, reinforcing the trend.
US Federal Reserve chairman Ben Bernanke's refusal to announce more money printing (QE3) was blamed for the drop, which was compounded by a massive sell order, according to precious metals trader Sharps Pixley.
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