The price of gold bullion tumbled more than 9 per cent in heavy trade on Monday, and was on track for a record single-day loss of more $US100 per ounce, as investors ditched the precious metal en masse in search for better returns in other assets. Spot gold was down 9.1 per cent at $US1344.39 in late New York trade. Gold's drop triggered a commodity selloff and was mirrored by a 9 per cent plunge in silver. Platinum and palladium also fell sharply. Bullion's harrowing sell-off caught many veteran investors by surprise. Monday's $US110 drop eclipsed the previous biggest loss on January 22, 1980, the day after gold hit its then-record $US850 on...
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