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During an interview earlier this week U.S. Federal Reserve Chairwoman Janet Yellen said interest-rate increase could be appropriate in the coming months, even further lowering the price of gold futures.

Michael Armbruster, CEO of Altavest spoke about the current situation and said “A firming dollar and expectations for higher interest rates are good excuses for the current dip in gold prices,”.

Adam Koos, president of Libertas Wealth Management Group, talked about his stance on gold prices. He talked about three indicates that would influence his stance on gold: “if the price can hold February floor of support at $1,200, if Yellen gets dovish, and if the dovish rhetoric causes the current trend line break to render itself nothing more than a bear trap.” Moreover, he added that he will stay long on gold if it falls in the range of $1,200-$1,210.