IT'S OFFICIAL: Gold Is In A Bear Market

It’s official: gold has fallen as much as 21 per cent from its intraday record in September, according to Bloomberg, qualifying it for the distinction of being in a bear market.

That report notes that the closing price for an ounce of gold will have to settle at $1,513.52 or below in order to  close down 20 per cent from its peak in August

The price of gold peaked at $1,923.70 per ounce in September.

The precious metal is currently trading at $1,547, down about 0.6 per cent on the day.

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Photo: FinViz.com

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