Spot gold started the week trading up $5.00 at $1715.00 an oz. in early Eastern trading before falling through $1800 resistance before the European open and continuing its descent when the US market opened.

Rebounding equity markets, an improvement in sentiment in the belief that government bail outs are showing signs of working, increased investor risk appetite and the IMF's impending sale of 403 tonnes of gold are taking their toll on precious metal prices.

Look at major companies that trade around the world and are not dependent upon Western sources of revenue