Gold markets experienced a week of historic volatility, setting a new all-time record before suffering substantial declines.

Gold prices experienced a significant decline in New York trading on Thursday, with the most active April futures contract settling at $2,887.80, down $43.90 or 1.50%. The precious metal touched a two-day low of $2,879 before slightly recovering.

Gold futures appear to have stabilized following yesterday's $40 price decline, posting fractional gains and a higher intraday low today.