Gold slumps to five-year low, dollar at highest in months

by DAVID GAFFEN | Reuters
July 21, 2015

Gold prices plunged to their lowest in more than five years on Monday, at one point dropping 4 percent on aggressive selling out of China, while the U.S. dollar hit a three-month high on expectations for higher U.S. interest rates.

Equity markets posted modest gains, with the focus remaining on earnings season.

The dramatic sell-off in gold came in a matter of minutes in Shanghai. More than 33 tonnes of gold, worth about $1.3 billion, traded in two minutes.

2 Comments - what are your thoughts?

  • bobnstuff says:

    I have to say it, isn’t buying gold something all the conservative talk shows advertise and the hosts all endorse it. A great investment.

  • I Seigel says:

    I guess this topic is just way over the heads of most people here, so no comments. You can’t blame Obama for something you don’t understand, I guess.

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