After a strong rally in January and February 2014, is gold on its way to another re-test of USD $1180 per ounce? Certaintly sentiment has soured for the...

After a strong rally in January and February 2014, is gold on its way to another re-test of USD $1180 per ounce? Certaintly sentiment has soured for the metal, and its hard to see a major catalyst to turn prices around right now, with a fall through USD $1300 per ounce likely before the end of the week. Were this to happen, wide scale pessimism would return. After rallying above USD $1,900 in 2011, Gold then triple topped across the course of a year at $1800 per ounce, with three failed attempts to push through this barrier. Were this to repeat on the downside, we could expect to see more weakness in Q2 this year, and another test of $1,180 per ounce, though whether that holds this time we'll have to wait and see. More detail on that subject, latest US economic data and World Gold Council report here (VIEW LINK)