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Gold prices dive 4% to five-year low

Slide follows surge in China sales with record 3.3 million lots, or 33 tonnes, traded on key Shanghai physical contract

Investors have been finding less and less reason to hold gold as an insurance against risk as the US dollar strengthens.


GOLD prices plunged as much as 4 per cent to their lowest in more than five years on Monday as sellers in top consumer China offloaded the metal.

A record 3.3 million lots of the metal, or about 33 tonnes, were traded on a key Shanghai physical contract, as China appears to...