The price of gold slumped below $1200 an ounce last Thursday, the lowest in more than 3 years, after the US Federal Reserve pulled back on its stimulus program, Xinhuanet.com reported. Though the price of gold has tumbled nearly 30% in 2013, analysts say it's still not the right time for gold traders to do bargain-hunting, as the market now shows a bearish view toward gold and it may continue to drop.

Written by Dora Men