The price of gold has dropped by nearly 6% since hitting a record high of $2,776.10 per ounce on October 29, now standing at $2,611.53 as of November 12.

This decline presents an opportunity for investors, both experienced and new, to enter the market at a lower price point.

To capitalize on this, investors should carefully explore their options, consider buying in larger quantities than earlier this year, and understand gold’s role in their portfolio, CBS News has reported.

With these strategies, investors can position themselves for long-term success despite price fluctuations.

Written by B.C. Begley