The fall in the gold price on Tuesday was the largest decline in twelve years and is feared to be the beginning of a correction downwards after the gold rally from price levels around 2,600 dollars per ounce at the beginning of the year.
The price levels have been at unreasonable levels since the beginning of September, according to Suki Cooper, head of commodity analysis at Standard Chartered.
Other assessors are on the same track.
The gold crash on Tuesday was an accident that could not be avoided, says Bloomberg's macro strategist Ven Ram.
The gold price increase during the year has been fueled by the Trump administration's tariff policy and geopolitical tensions, with wars in Gaza and Ukraine in focus.
In addition, a number of central banks have tried to reduce their exposure to the increasingly weak dollar by building up their gold reserves.
