Sterling Smith, commodity trading adviser and vice president, commodity research, Citibank Institutional Client Group, is bearish gold.

FORBES: Survey Participants Have Mixed Outlook For Gold Prices Next Week

With no hints of stimulus or quantitative easing, gold had nothing to pull it higher, said Sterling Smith, vice president, commodity research, Citibank Institutional Client Group.

FORBES: FOCUS: Gold Falls As Fed's Bernanke Doesn't Signal QE

Sterling Smith, futures specialist, commodity research, Citibank Institutional Client Group, took a similar view as Barclays, saying it appeared that buyers stepped in at the low, which explained the lack of significant change in the data.

FORBES: FOCUS: Mixed Speculative Activity Seen In CFTC Data Following Metals Price Break