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The price of gold has been flirting with $1500/oz today and can go considerably lower than that after starting the year a touch below $1700/oz. Over the last two months, the US dollar has appreciated in value considerably which has driven down the price of commodities (gold included). As you can see in the chart below, it's been a rough ride for those who were buying gold above $1600/oz.

Gold Heads Lower - Screen Shot 2013 04 12 at 2.22.39 PM