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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

Published Mon, Jul 20, 2015 · 09:50 PM
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London

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 be increasingly shunning bullion.

Investors have been finding le…

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