Gold prices slumped to their lowest level in nearly three years Wednesday after a selloff at the start of Asian trading reverberated through trading floors in London and New York.
The most actively traded contract, for August delivery, fell $45.30, or 3.6%, to $1,229.80 a troy ounce on the Comex division of the New York Mercantile Exchange. This was gold's lowest settlement price since Aug. 23, 2010. Gold for June delivery also fell 3.6%, down $45.20 to settle at $1,229.60 an ounce.
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