Gold Plunges 4.2% to Lowest Since March ’10 as Platinum Slides

Gold Price
A worker arranges newly cast gold bullion bars in a saferoom ahead of export at the KHGM Polska Miedz SA smelting plant in Glogow, Poland. Gold is headed for a second monthly decline in March as investors cut holdings in exchange-traded products and the dollar rallied on prospects for tighter U.S. policy. Photographer: Bartek Sadowski/Bloomberg

Gold sank 4.2 percent to the lowest level in more than five years, dropping for a sixth day, on prospects for higher U.S. interest rates and after China said it held less metal in reserves than some analysts expected. Platinum extended its decline to the lowest since 2009.

Bullion for immediate delivery fell as low as $1,086.18 an ounce, the lowest price since March 2010, and traded at $1,099.09 at 9:42 a.m. in Singapore. Prices sank 2.5 percent last week, the most since March.

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