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Sub 1,500 $ Gold, Sub-26 $ Silver in mid-April

Gold dipped massively on Friday, April 12th, 2013. Kitco's last week "Gold Survey" predictions expected a bullish climb this week, but the expectations were broken in half by the strong dip registered during the second half of this day.

Gold scored a 2 year low by falling below 1,480 $.

For next week's outlook, Kitco's "Gold Survey" participants are split evenly: 47.62 % bullish, 47.62 % bearish, the remainder (4.76 %) are neutral.

If the negative forces continue pulling gold's price downwards, then we will see a continuation of the price reduction until either bargain-hunting buyers or overall investor sentiment will pick up, propelling gold higher.

Silver dipped below 26 $ - a psychological level for investors, especially stackers. However, the grayish shiny metal still holds on strongly, which despite its volatile nature still seems to resist better than gold.

The strong dip came soon after Goldman Sachs slashed its outlook for gold in 2013-2014.

We are still in the correction period and gold might correct even more. No-one knows for sure how low it will go and, picking the bottom will be essential for those who want to invest in gold. Nevertheless the low price will stimulate investments and eventually gold will rise high again.

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