Gold hit its one month low yesterday as US, China and European data showed a stronger economic picture. Even the political tensions in Ukraine and the Middle East were not enough to offset the price.
As prices fell below the technical level, this only provides an ideal buying opportunity to invest in gold.
Bullion was sent rallying last week as the clashes in Gaza and Israel heightened and the Malaysian passenger jet crash all led to the price increase.
Meanwhile the dollar is up 0.1% against a basket of main currencies as new data shows the amount of Americans filing for jobless benefits falls to its lowest level since 2006.
The better than expected employment reports from the US have caused speculation that interest rates will now be raised sooner than expected which could lead to investors favoring interest paying assets over the shiny metal.