The price of gold fell below $4,000 a troy ounce on Monday, as some of the “froth” gets taken out of what industry executives said had become an unsustainable rally.
Bullion fell to $3,980 an ounce during Monday trading after surging 27 per cent in just seven weeks to a high of $4,381 on October 20, in what some in the sector said was “speculative” positioning by investors.
The price has fallen more than 9 per cent in a week from its recent high.
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