I don’t really know, but suspect it’s a combination of newfound US oil might plus the European Union and China slipping into recession. India won’t be far behind.
It’s not all dollar strength behind the drop in gold pricing in US dollars, though. Went looking around and it’s falling in every currency I checked. Not as pronounced as when denominated in dollars but still falling, even in Indian Rupees, which is a strong market for gold.
http://goldprice.org/gold-price-india.html
Thank You!
Freegards
LEX