Gold prices went a little lower during trading on Tuesday as investors sold out of commodities, despite the fact that the dollar is weakening. Due to speculation that some investors will sell their metal to others once the prices reach a high that is close to a record, the value of gold may fall for a second day in a row in New York. This past week, the price of gold futures went up to a price within 1.7% of the record price that was set last month.

“We fear that yesterday’s sharp break that took gold down to $1,520 in the veritable twinkling of an eye was the harbinger of even more severe weakness that might soon develop”, said Gartman of the Gartman Letter based in Suffolk, Virginia. “We fear the possibility that gold might swiftly fall to $1,480 or so over the course of the next few days or weeks”.

Officials from the International Monetary Fund (IMF) and the European Union (EU) will finish their review today of Greece’s plan to sell 78 billion euros worth of assets and austerity measures as they prepare to provide the country with its second bailout in a little over just one year.