World Economy

Gold Slides

Gold SlidesGold Slides

Gold tumbled more than 2% on Monday, pulling further away from its highest in a year, as a rebound in stocks and profit-taking from China after the Lunar New Year weighed on the market, Reuters reported. Bullion had climbed to a one-year high of $1,260.60 on Thursday as turmoil in global equities stoked safe-haven demand for the metal, along with the Japanese yen and US Treasuries. Spot gold fell to a session low of $1,211.05, before paring some losses to trade down 1.9% at $1,213.60. It dropped 0.7% on Friday. US gold futures dropped as much as 2.2% to $1,212.20.