In April, after gold dived more than $200 an ounce in two days, an unprecedented scramble to buy everything from coins to jewellery at "bargain" prices helped arrest the plunge, tempering fears of a prolonged rout.
But not this time, say dealers and jewellers, who report that consumers across the world are reluctant to buy even after a price decline of almost $200 in 10 days as investors rushed to liquidate their gold in anticipation of the Federal Reserve's scaling back its bond-buying stimulus since November 2008.
The failure of everyday consumers to rush to gold's rescue, as they did two months ago, suggests that prices may have much further to fall as investors rush to liquidate, analysts say.
"The coin business is definitely a lot slower than April. They are not lining up outside of the store," Craig Sklar, owner of Ridgewood Coin & Stamp Gallery in New Jersey, said.