There’s gold in them thar hills. It’s just that no one wants it right now. Gold slumped anew on Monday, racking up its worst two-day loss in 30 years, and investors dumped stocks and other commodities after weaker-than-expected Chinese data raised concerns about the global economic outlook. Gold dragged other metals lower as its price plunged more than 9% on Monday alone, accelerating losses racked up on Friday. In the last two sessions gold has fallen more than 13%, making for the worst two days since late February 1983. Everything from official selling from central banks to a tax hike on gold exports from India to Cyprus being told to sell bullion to bail itself out are among the reasons being cited for the selloff.
Extra, extra: Commodities — Tougher times for trading titans — Financial Times
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