The price of gold reached its lowest since March, dropping below $1,700/0z on the 9th of March.
As Gold declines, Bitcoin remains strong as each coin is currently worth about 36 ounces of gold.
In addition to losses recorded in the past week, the value of gold declined further earlier today as Bitcoin remains strong and gradually rebounds. A flash crash triggered the loss, causing the price of gold to reach its lowest level since March. The price of gold dropped below $1,700/oz on the 9th of August.
Gold flash crash
After gold saw its nearly 6-month low, the precious metal has recovered slightly. At the time of writing, gold trades at $1,745/oz. The precious metal had diminished by 14.6 percent over the past year when it topped its all-time high, just below $2,040 in August last year. Also, the valuable metal has plunged 8 percent since the beginning of the year and lost 8.7 percent since it traded above $1,900/oz towards the end of May.
According to forex trader and chart g
