Big players in the trading industry have taken extreme measures on betting the falling gold value. Yet the largest of the gold backers are admitting now is not the very best of time to be beating gold as the economic crisis is waning around the US and the Eurozone debt crisis is receding.

Speculations regarding the US Federal Reserve could scale back its enormous monetary easing attempts due to the weakened demand for gold. The current price is now down to 5pc this year to $1,582 (£1,059) an ounce.

Wall Street has set a new record for this week as the Dow Jones went passed the 14, 410 mark of a much stronger than expected job figures. Meanwhile, the FTSE 100 closed at 6, 483.58 its highest level in the past 6 years.

Two years ago, Soros beat the Bank of England by selling the pound in 1992 that forced the UK out of the exchange rate mechanism. If there is no consensus from the market’s prominent investors on what exactly gold will do next, then it will only reflect the wider debacle that would continue to plague the world’s financial centres.

The price of gold decreased at a steady rate for several months with February marking the fifth month in which it fell and the longest recorded running decline since 1997. Experts on gold know it is volatile when there are hints from the central bank of monetary easing as well as movement in the dollar as well as changing demand in India that result in a shift in price.

Gold has a rather peculiar status that can behave in both risks off and on asset. Although many investors were panicky during the 2011 Eurozone debt crisis buying huge amounts of gold, the price has plunged and people started selling their gold to cover their personal losses.

Investors have been recently frightened by the dreadful “death cross” signal when the price’s 50 day rolling average plummeted below its 200-day moving average and two of the last three “death crosses” were disappointingly followed by marked sell-offs.

Sentiments were turning to bearish concerns when the banks cut down its forecast for the price for the gold this year to $1,600 an ounce from $1,81 and strongly predicted to be even lower next year at $1,450.

The decreasing enthusiasm for gold among investors is seen as particularly significant as they are regarded as long-term “buy and hold” types of investment than most aggressive speculative investors.