Given that gold prices have declined over $80 since reaching $1363 on September 7th, one might think that we have been under the sentiment of a bear market in gold and that prices will most likely continue to decline.

A combination of factors have resulted in dramatically lower pricing in both gold and silver today. As of 4 o’clock EDT, gold futures are trading off by $15.50, with the most active Decembers contract currently fixed at $1286.20.

Over the last two days, we have seen gold prices oscillate dramatically, gaining 1.2% yesterday, only to see prices decline by almost a full percentage point today.