Gold price crash threatens $3 trillion worth of US securities
The Dow Jones Industrial Average plunged to a five-week low on Monday, while the S&P 500 lost 0.2% to 3,828.07.
Gold is trading at $1,542.40 an ounce, down 0.4% from the day’s close.
It is also down almost 3% from a year ago, when gold was trading at more than $1.12 an ounce.
Gold has been one of the world’s top commodities over the last three decades, having surged from $1 per ounce in 1996 to a high of more than three-quarters of a million ounces in 2000.
It has been a tough time for gold, which has been hit hard by the global financial crisis and is now trading at a six-year low.