What's going on with the price of gold?

What's going on with the price of gold?

The price of gold has plummeted in the past couple of days, bringing an abrupt halt - for now - to its recent record-breaking rally.


Gold fell more than 9% on Friday, its sharpest one-day drop since 1983, and it sank a further 6% on Monday.


All this comes shortly after the yellow metal touched a record high of $5,500 an ounce last month, following a year that has seen a huge rise in its value.


However, despite the sharp falls, the price of gold has only fallen back to where it was a couple of weeks ago and it is still about 70% higher than it was at the same point last year.


So what is going on?

https://www.bbc.com/news/articles/c87r2700dq8o