New Delhi, June 12 -- Ever since the price of gold hit six digits - Rs.1 lakh per 10 gm - back in April, the market's focus on the yellow metal has been intense. Traders and investors alike had bullish targets but, contrary to expectations, the price of gold cooled off in May. The bulls brushed this off as a normal correction, and sure enough gold was back above Rs.1 lakh on 5 June.

However, there was a change in sentiment over the weekend, and the bulls don't seem very confident any longer.

Why is that? Let's explore the reasons for the recent dip.

First things first. The price of gold hasn't fallen much - it's down only about 2% over the past two days. But sentiment has taken a bit of a hit, especially among traders. Reports that the...