Gold fell to its lowest level in five years yesterday, as the strengthening dollar and the prospect of rising US interest rates led to a sharp sell-off that was
part of a broader slide in commodity prices.
Gold dropped 4 per cent to hit a low of $1,088 a troy ounce — a level last seen in March 2010 — after heavy selling in Asia saw more than $1.7bn-worth of bullion dumped in a matter of minutes, shortly after markets opened. It later recovered to trade at $1,109.
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