“Gold has been under pressure since the European Central Bank announced a surprise interest rate cut earlier this month, said Carlos Sanchez, analyst at precious metals firm CPM Group.  But gold prices managed to hold above $1,240 an ounce, which is an important support level for technical traders, said Sanchez.  ‘I think we’re at the lows,’ he said. ‘This is a good buying opportunity for mid to long-term investors.’  Gold has been punished this year as investors pulled money out of safe havens to chase higher returns in the stock market. Stocks have soared to record highs in the latest phase of a nearly five year-old bull market.”

http://money.cnn.com/2013/11/22/investing/gold-prices/index.html

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