Gold investors run for the exits, prices suffer biggest-ever drop

The price of gold bullion tumbled another US$125 per ounce on Monday in its biggest-ever daily loss, as investors liquidated bullish bets en masse after months of disappointment over the performance of the precious metal.

In percentage terms, Monday’s 9 per cent loss would be the biggest since 1983 and was almost double the loss on Friday. Commodities fell across the board, but few as hard as gold, which hit a two-year low, and silver which plunged 11 per cent.

via Business feed http://www.scmp.com/business/commodities/article/1215850/gold-investors-run-exits-prices-suffer-biggest-ever-drop