After a strong first quarter performance, gold prices, gold stocks and gold ETFs are falling along with other asset classes.
Geoffrey Rogow writes in his Technically Speaking column that gold prices have finished lower in four of the past five weeks, including a 1% drop last week. ETFs that hold gold, including SPDR Gold Shares (GLD), are off 6% in the past month.
Rogow notes that investors in search of a safe asset class have recently shifted their preference from gold to the dollar. However, other analysts believe that gold is well positioned to move higher over time.