The Globe and Mail reports in its Thursday, Nov. 26, edition that gold has tumbled from record highs as investors, eyeing an end to the COVID-19 pandemic, move money to riskier assets. A Reuters dispatch to The Globe reports that while some analysts now believe the rally has peaked, others, however, say prices may still have room to rise, at least for a while. Gold has traditionally been seen as a safe investment, and investors bought record amounts as the pandemic tore through the global economy. Those purchases pushed prices from $1,500 an ounce in January to an all-time high of $2,072 in August, and forecasters including Bank of America said it could soon reach $3,000 (all figures U.S.). The announcement of several highly effective COVID-19 vaccines this month has cemented expectations for an economic rebound, pressuring gold down to $1,800. Carsten Menke analyst Julius Baer says: "The gold and silver markets are running out of air. As we expect a continued improvement of the economic environment next year, safe-haven demand should fade." Investors pulled a record $4-billion from gold funds in the week to Nov. 18, said Bank of America. The bank has abandoned its $3,000 price target.