Gold Price Consolidates After Recent Dip, Experts Predict Further Movement

After the massive gold rally until mid-October, the price of gold plunged below the $4,000 mark.As then, the precious metal has been consolidating. but not everything is over yet, say experts.

The price of gold fell slightly on Thursday. On Wednesday, the yellow precious metal reached a 2-week high.

“We continue to expect the consolidation that began with the October setback to continue as the dust from this setback has not yet fully settled,” said julius Baer analyst Carsten Menke.

Gold has lost around 5 percent since its record high of $4,381.21 on October 20, but is still trading above the key $4,000 per troy ounce mark.

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