Gold nears 4-month low

|By:, SA News Editor

Gold fails to bounce from its 2% retreat yesterday, dipping another 0.5% to $1,259 per ounce, its lowest price since early February.

"Ukraine has fallen to a whisper," says one trader looking at the fundamentals, and "Gold frequently sees weakness and bottoms on options expiration," says another focusing on the technicals.

Commerzbank believes investors are still getting over the surprise slowing in Chinese demand reported yesterday. "Chinese banks are now clearly sitting on considerable gold stocks which they are keen to reduce before they import any new gold from Hong Kong."

GLD -0.5%

ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, DGL, DGZ, DGLD, AGOL, OUNZ, TBAR, UBG, GLDE, GYEN, GEUR, GLDS, GLDL, GGBP