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Gold Pushed Down Below $1400 an Ounce Amid Frenzied Selling
Apr. 15, 2013 09:29AM PST
Precious MetalsUSA 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.
