The gold price plunge may not be quite over.

The price of the metal declined 6% on October 21, its biggest single-day drop in more than a decade. It then rose slightly to close out the week, giving current investors a reason to be optimistic. But it now turns out that optimism was short-lived.

The price of gold on October 28 is now $3,931.80 per ounce. While still high compared to what it cost a few years ago, that marks a material drop for the shiny metal, which was priced at $4,356.21 per ounce just on October 20, according to American Hartford Gold. That marks an almost 10% decrease in less than 10 days. That drop is due to multiple factors that drive the price of gold, including reduced geopolitical instability amid ongoing trade negotiations.

But it’s also important to note that, historically, gold prices only rise over time and that drops in the price, while inevitable, usually come right before the next surge. So investors who haven’t yet got started with the metal should be strategic in their approach now. Below, we’ll break down a few ways in which they can take advantage of these new, affordable price changes.

Start by exploring the top gold investing options available to you here.

How investors can take advantage of gold’s falling price

Here are three ways investors can take advantage of this new, more affordable gold price:

Reconsider your gold amounts

When gold was comfortably priced over $4,000 per ounce, investing via full, one-ounce gold bars and coins was out of the question for many investors. Instead, fractional gold became more attractive thanks to it’s lower entry price point. But that also came with the trade-off of owning less gold, often at a fraction of what investors could secure by buying one-ounce gold bars from Costco, for example. 

But now, with the price of gold down by almost 10%, it’s worth reconsidering your potential gold investing amounts. You may have a small window of opportunity to take advantage of this climate by investing in larger, physical gold amounts. Consider exploring your options more carefully, then, before economic conditions change and the price rises again.

Learn more about investing in gold bars and coins now.

Boost your portfolio threshold

What if you’re already invested in gold, albeit at a limited, more affordable amount? Then consider boosting your portfolio threshold. While most experts recommend capping the gold portion of your portfolio to a maximum of 10%, it’s possible that you still have some flexibility and space to get to that number, especially if you purchased the metal during its recent price surge. 

Evaluate how much gold makes up of your overall portfolio now and then consider boosting it closer to that double-digit limit. When the price inevitably rises again, you’ll be happy that you made a move now.

Explore your gold types

While gold bars and coins are seemingly ubiquitous, they’re not the only ways to invest in gold. You can also get started with a gold IRA, a gold ETF or gold stocks or futures. Each will respond similarly but not identically to a cooling gold price, allowing strategic investors to exploit those changes while the price is still declining. 

Consider speaking with a financial advisor or top gold investing company, then, who can advise you on which types are more affordable for you. But consider doing so sooner rather than later to better exploit this momentary drop in price.

The bottom line

While gold is considerably more affordable this week than it was last week, investors shouldn’t take a haphazard approach to the metal either. By reconsidering the amounts of the metal they can potentially purchase, reevaluating their portfolio threshold and by closely examining all the available gold investment types, they can better determine their next steps. And, ideally, they can also see their investment surge in value over time, thanks to expedient and strategic maneuvering right now.