Gold prices fell below $1670 US an ounce on Wednesday, extending the previous day's retreat from a two-week peak.
Comex gold futures for April delivery closed down $27.20 to close at $1,660.50 an ounce.
The sell off is being blamed on weak U.S. economic data. Jeffrey Christian, Managing Director of CPM Group, tells BNN gold should trade in a range between $1,600 and $1,790 an ounce for the rest of this year.
"We expect gold prices to average slightly higher as investors buy on these dips," Christian tells BNN.
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