Gold Plunges as Global Equity Mayhem Sets Traders on Edge
- Pressure to liquidate gold positions to cover margin calls
- The yellow metal was down by as much as 3.2% earlier on Monday
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Gold plunged on Monday as traders assessed the implications of a major global stock rout.
Spot bullion fell as much as 3.2%, the biggest single day drop since early June. Other precious metals have also fallen sharply, with silver down by as much as 7.2%.