Gold Prices Continue Slipping

Gold prices have suffered the largest drop in several weeks. Beginning on Friday and continuing on Monday gold prices have slipped by nearly one percent the largest overall drop since August.

Gold buyers appear to be reluctant since the release of the U.S. jobs report on Friday which showed that the American economy produced just 114,000 jobs in September. Those numbers reflect the continuing uncertainty over the economies of the European Union.

Gold had dropped by 0.5 percent on Friday and slipped an additional 0.4 percent during trading on Monday. Despite the current drop overall gold prices have increased since the beginning of the year by 13 percent and is the 12th straight year of positive prices.

Gold bulls are certain that gold bullion prices will surpass $1,800 an ounce based on the weak economic recoveries of most major economies and continued stimulus packages to kick start growth.