The gold price saw its biggest decline in nearly three years last month as considerable stock market losses resulted in the liquidation of gold positions bringing gold down more than 20 percent from a record high of $1920.30 per troy ounce and provoking a period of intense volatility for gold.
After hitting an all-time record high, the price of gold edged back down Thursday. Precious metals analysts are blowing off the break as little more than a bit of profit-taking or a short breather before gold prices continue their upward climb on fear and uncertainty in the markets, which has been pushing investors into safe-haven assets.
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