China sells gold, sharply pulls down price
Beijing: China dumped a huge amount of gold on the market, causing the price of the precious metal to fall drastically. Gold prices crashed in Asian trade on Monday -- falling almost 4 percent within a matter of seconds. Business Insider Australia said a huge dump of bullion, equivalent to one-fifth of a whole day’s trade in a normal session, came on the market in China on Monday morning in a two-minute window. Gold plummetted from $1,132 an ounce to $1,092 in the space of minutes just after 11.30 a.m. after five tonnes of bullion was unloaded on the Chinese market.