Gold abruptly dropped through $1,100 an ounce for the first time since March 2010 and is lining up for its second-longest losing streak of the year.
The price of the yellow metal plunged sharply in morning trade, dropping as much as 5.5 per cent to a low of $1,072.35 an ounce from Friday's close of $1,134.47.
It was the first time gold traded below $1,100 since March 26, 2010, and to the lowest point since November 3, 2009 at this morning's intra-day low.
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