The gold price dipped to $1,163 an ounce on Oct. 31, its lowest price since July 2010.
At press time, it was trading at $1,169 an ounce.
The yellow metal has generally traded over $1,200 an ounce since July 2010. It hit a peak of $1,921 in September 2011.
Analysts attributed gold’s continued weakness to the growing strength of the U.S. economy, as well as the U.S. dollar.