Khaberni - Gold plunged 4% on Thursday as investors took profits after the rise to unprecedented levels, yet the prices are headed to record the best monthly performance since the 1980s amid economic and geopolitical uncertainty.
The spot price of gold dropped 4.6% to $5149.99 an ounce after having earlier touched $5594.82.
The U.S. futures contracts for gold delivery in February dropped 2.8% to $5165.20.
David Meager, the director of metal trading at High Ridge Futures, said, "We are witnessing large selling waves after precious metals recently recorded their highest levels ever."
However, the spot prices of gold still remain up 19% this month and 3.6% this week.
