A drop in the price of gold now offers prospective investors an affordable entry price point. Tetra Images

Here's something you haven't heard in a while: The price of gold is dropping.

With news of the price surging ubiquitous in recent years, a drop in the value of the shiny yellow metal is rare. And a major decline in price is even rarer. But that's exactly what happened this week when the price of gold fell by 6% on October 21, its largest single-day decline in more than a decade. At $4,131.47 per ounce as of October 23, the price is still relatively high, just not as high as it was in recent weeks. And questions are now arising about the potential for the price of the metal to fall even further in the weeks and months to come.

This is a particularly pressing question f

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