"The recent employment report is why we saw a dramatic move lower in the gold price. Gold has been susceptible to falling below the $1,900 support level. Central banks continue to be buyers of gold and a lot of big international institutions are stating that gold is an important reserve asset again. This indicates a strong fundamental set up for gold in at least a generation. However, many of the metals were getting on the higher levels of the bollinger bands and were due for a pullback," says Everett Millman.