Gold prices were plummeting on Monday with the futures contract down 6%, or around $90 to $1,412 an ounce. On Friday, the price of gold plunged 5% to $1,487 an ounce. As recently as mid-September, gold prices were flying above $1,800. Analysts attributed last week's plunge to fear that gold won't be the safe haven it has been when inflation spikes, the economy deteriorates or the sale of gold to raise cash skyrockets. Ref. USAToday
This is a huge loss for gold. I didn't catch what is the probable cause of this sudden frenzy to sell off besides the down trend earlier today.
International Level: Politics 101 / Political Participation: 5 0.5%
The way things are going we might end up bartering with gold coins like in medieval times.
International Level: New Activist / Political Participation: 14 1.4%