Gold Price Slumps to Two Year Low.
The gradual slide in the gold prices became a rout last Monday as the precious metal fell a further 5 per cent to its lowest level in two years.
The fall was triggered by a wider sell-off across markets after Chinese growth figures disappointed, but the momentum behind gold’s fall has been building for several months, with investors increasingly questioning whether the metal’s decade-long bull market may over.
Spot gold prices fell as much as 5 per cent to a low of $1,384.69 an ounce, the lowest in two years. The metal has now fallen 26 per cent since hitting a record high of $1,920 a troy ounce in September 2011.