NEW YORK (AP) — Gold had its biggest one-day drop since 1983 on Monday as a selling frenzy that began last week picked up speed.
The price of gold plunged $140.30 to $1,361.10 an ounce, a decline of
9 percent. The metal has dropped $200 an ounce, or nearly 13 percent,
in the last two trading days. It's the lowest price since February 2011.
The sell-off started Friday when the government reported a drop in inflation. Investors often buy gold when they're fearful of rising prices and sell it when they see inflation ebbing.
The sell-off started Friday when the government reported a drop in inflation. Investors often buy gold when they're fearful of rising prices and sell it when they see inflation ebbing.


