Gold futures posted their biggest single-day loss of value since 1980, plummeting more than $100 on strong U.S. economic data and the expectation that the Federal Reserve will introduce further stimulus.
Volume looked to be a record as money managers competed to dump gold futures, and the value of gold bullion is now more than $150 below the recently hit all-time high of $1,911.46 per ounce.
Speculation is that the Fed may reveal plans to ease monetary policy later this week. Silver suffered a similar loss of value, dipping nearly 6 percent to $39.34 per ounce.
