Gold price at five-year low

Gold has plunged four percent to its lowest level in more than five years

$1,900 per ounce
1,800
1,700
1,600
1,500
1,400
1,300
1,200
1,100
1,000

2010
11
12
13
14
15
Jul 20 low: $1,088.05

Bullion fell as low as $1,088.05 per ounce – weakest since March 2010 – shortly after Shanghai Gold Exchange opened for trading

China sold off gold as safe-haven status of bullion diminished with expectations of U.S. interest rate hike

Source: Wire agencies