Two weeks after the gold price rocketed past the $1,500 barrier and then soared as high as $1,570, the metal’s price per ounce sunk below $1,500 on May 5.
At press time, it was trading at $1,479.40.
The price of silver has also fallen considerably. On May 5, it traded at $35 an ounce. The metal hit a 31-year high of $49 on April 25.
Analysts attributed the declines to reports that big investors like George Soros were selling their gold and silver holdings.
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