Silver Dips Below $30

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As bad as things may seem, some point to the fact that geopolitical tensions have been worse in the past than they are now. Perhaps most importantly, the situation with Iran seems to have faded into the background, as oil prices have fallen below the $100-per-barrel level.
From a pure supply-and-demand perspective, some analysts point to low levels of buying interest from coin dealers who serve the general public. The threat of a European recession in particular could hurt gold demand across the continent. Even though gold demand in China is still high and central banks are buying gold, ETFs like the SPDR Gold and iShares Silver vehicles aren't pulling in the amounts of money they did in the past when prices were rising sharply.
Some governments are taking measures to restrict flows of gold across borders. For instance, although India now expects to remove the 1% excise duty on jewelry, it will keep a proposed 4% import duty on gold -- which is double the previous amount.
Finally, many traders in the gold market rely on technical indicators to make buying and selling decisions. Lately, those indicators have stood in the way of further gains, pressuring gold prices and creating a general bias away from higher prices.

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The buying window is closing once again.