Gold hits five-year low under $1,100 on Chinese selling
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Gold plunges to five-year lows after early Asia rout
July 20, 2015 5:17 PM EDTBy Marcy Nicholson and Clara Denina
NEW YORK/LONDON (Reuters) - Gold prices plunged more than 4 percent to five-year lows on Monday as a sudden bout of selling across Shanghai and New York markets during the illiquid early Asian trading hours triggered a mini flash crash, deepening bullion's biggest rout in years.
A wave of sell orders in a one-minute period shortly after the Shanghai Gold Exchange opened on Monday sent the most-active U.S. gold futures contract down $48 to as low as $1,080 per ounce, its weakest since February 2010.
Within two minutes, an estimated 33... More
