Aug 5, 2011
August 5, 2011, Los Angeles – The Gold price dipped 0.75 percent or $12.40 to close at $1,648.30 an ounce on Thursday after striking a record around $1,681.00 an ounce earlier in the day, before the Dow Jones plunged more than 500 points and precious metals investors were forced to sell profitable investments to cover losses in the equities market, but the decline in prices sparked an increase in bargain hunting.