Gold prices are up again today.

Gold for December delivery gained 50 cents to $817.30 an ounce on the Nymex. Yesterday, the metal climbed $11.10, or 1.4%, to close at $816.80.

Gold is, however, a long way off its March high of over $1,000 an ounce. And many investors in gold are now left wondering what triggered such a sharp sell-off.

Geologist and S&A Oil Report editor Matt Badiali says the key to gold’s drop is the unwinding of hedge fund-positions in commodities…