Spot gold plunged by nearly US$60 overnight, a correction of nearly 6% from historical highs

Spot gold continued to fall from around US$2,000/ounce in the evening, dropping to a minimum of US$1938/ounce, with an intraday drop of nearly 4%, and now rebounding slightly to around US$1950/ounce. Since August 7th, the price of gold has continued to fall from its historical high of US$2074, and there has been a correction of over 6%.