Gold crashes

Apr 15, 2013 by

Gold posted its biggest one-day percentage drop in 30 years Monday as new signs of a global economic slowdown emerged and fears diminished that central banks’ easy-money policies would stoke inflation.

Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.

The reversal comes as investors are grappling with signs the global economic expansion that began in 2009 is slowing.

via Gold Plummets to Two-Year Low – WSJ.com.

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