Gold Pushed Down Below $1400 an Ounce Amid Frenzied Selling

Precious Metals

USA Today reported that gold continued its downward spiral on Monday, entrenching itself in bear market territory, as the precious metal dipped below the crucial $1400 an ounce territory

USA Today reported that gold continued its downward spiral on Monday, entrenching itself in bear market territory, as the precious metal dipped below the crucial $1400 an ounce territory.

As quoted in the market report:

The 27.3% drop from its all-time high puts in deeply in bear market territory. It is gold’s worst bear market drop since a 39% plunge Jan. 2, 1996 through Aug. 25, 1999, according to Bespoke Investment Group. The average gold bear market has sliced nearly 32% off gold’s price, according to Bespoke.

To view the whole USA Today report, click here.

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