According to foreign reports, gold prices plunged sharply on Monday, with trading volume increasing significantly. 8% , or exceed 100 The U.S. dollar is set to record its largest single-day price drop on record, as investors sell off gold in search of better returns in other assets.

The sharp drop in gold prices triggered a broad decline in the commodity market, and silver prices also plummeted. 9% Platinum and palladium also plummeted.

The sharp drop in gold prices caught many veteran investors off guard. On Monday. 110 The dollar's decline exceeds 1980 Year 1 Moon 22 The previous single-day decline record set by the day.

In terms of the percentage decline, today's drop is... 1983 The largest single-day figure in years.

Despite the news last week that the Central Bank of Cyprus had sold gold to inject funds into the bailout, gold prices fell below a key level. 1,500 The dollar is at a key threshold, but no analysts expect this to trigger another round of official gold selling.

The biggest question is whether the gold market... 12 The year-long rally comes to an end. Gold prices hit... 2011 Year 2 Lowest this month, since 2008 Nearly half of the gains since the economic crisis last year have been erased, and current levels are lower than... 2011 Year 9 The record high set by the moon 1,920.30 The U.S. dollar is down about 550 Dollar.

Credit Suisse analyst Tom Kendall Indicates, “ The next important technical support level is at 1,310 The U.S. dollar still has a long way to fall before finding support levels. ”

Recent indications that Federal Reserve officials are poised to soon begin tapering their asset purchases have also helped set a negative tone for the gold market, even though inflation has yet to materialize at the level feared by the market.

Greenwich Mean Time 18：25 Spot gold plunges. 7.8% per ounce, reported 1,362.89 The U.S. dollar hit a low during trading. 1,349.44 Dollar.

United States 6 Gold futures plunge sharply on heavy volume. 140.30 U.S. dollar, quoted per ounce 1,361.10 The U.S. dollar. According to preliminary data, trading volume reached a record high, approximately... 70 Ten thousand hands, exceeding 30 Three times the daily average.

China’s National Bureau of Statistics announced on Monday that the country’s GDP for the first quarter was... (GDP) Year-on-year growth 7.7% , significantly lower than the market’s general expectations. 8% and compared to the fourth quarter of last year 7.9% Reappearance of the decline.

Disappointing Chinese economic data earlier today gave investors yet another reason to reduce their positions in U.S. stocks and other major industrial commodities.

The world's largest gold exchange-traded fund (ETF) Gold holdings have fallen to their lowest level since the beginning of last year.

Spot silver plunges. 9.6% , per ounce 23.37 Dollar.

Spot platinum plunges sharply. 5% per ounce, reported 1,410.24 The U.S. dollar. Spot palladium plunges. 6.9% per ounce, reported 659.47 Dollar.

Source: Shanghai Gold Exchange