Panic selling in gold markets has accelerated on Monday, with the yellow metal falling more than $200 an ounce over the past two trading sessions. The blood bath started on Friday, as sell orders for 400 metric tons worth about $20 billion hit the market, amid rumors the ECB would force Cyprus to sell gold reserves to help finance its bailout. The violent decline was then fueled by weaker than expected economic data from China, and calls from major banks including Goldman Sachs to short bullion....
Panic selling in gold markets has accelerated on Monday, with the yellow metal falling more than $200 an ounce over the past two trading sessions. The blood bath started on Friday, as sell orders for 400 metric tons worth about $20 billion hit the market, amid rumors the ECB would force Cyprus to sell gold reserves to help finance its bailout. The violent decline was then fueled by weaker than expected economic data from China, and calls from major banks including Goldman Sachs to short bullion....
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