China sells gold, sharply pulls down price

Asian Journal - - Asia -

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.

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