Gold prices sink to their lowest price in one month as the Bureau of Labor Statistics reports that producer prices eased during July, but the yellow metal is paring losses on reports that Ukraine troops attacked an armed Russian convoy. ETF Securities U.S. research director Mike McGlone tells TheStreet's Joe Deaux that gold investors should be keeping an eye on German government bonds and U.S. Treasuries, which are dipping to new lows. Despite the down day in the gold market, the price has risen more than 8 percent in 2014, easily reversing the nearly 30 percent drop in futures during 2013.

More from Video

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Why Jim Cramer Likes Cisco

Why Jim Cramer Likes Cisco

In Case You Missed It: Expect More Volatility, Netflix Down After Analyst Praise

In Case You Missed It: Expect More Volatility, Netflix Down After Analyst Praise

Trading Strategies: What the Lunar New Year Means for Trade Talks

Trading Strategies: What the Lunar New Year Means for Trade Talks

Intel vs. AMD: Which Chipmaker's Stock Is a Better Bet This Year?

Intel vs. AMD: Which Chipmaker's Stock Is a Better Bet This Year?