Gold prices fell 2% in Thursday trading and are aiming for their biggest daily percentage drop since July, but prices remain on an upward path for the month.

The precious metal’s “modest monthly gain is rooted in a classic story: when global uncertainty increases, investors still turn to safe havens, and gold has that appeal, and there’s still enough uncertainty for a little gold shine,” said Chairman Adam Koos. Libertas Asset Management Group. “Despite a challenging year, there is enough uncertainty to support economic stability.”

“However, today’s big decline comes as a stark reminder of the delicate balance that gold must navigate,” he said. “With treasury yields rising, the appeal of safe-haven yields is putting real pressure on gold, particularly as we see risky assets such as equities taking a hit.”