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The price of gold dropped considerably in November, starting the month priced at $2,736.35 per ounce on November 1 to $2,607.51 per ounce on November 18 — a nearly 5% drop in less than three weeks.

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Global gold demand swelled about 5% in the third quarter, setting a record for the period and lifting consumption above $100 billion for the first time, according to the World Gold Council.