{"id":1136712,"date":"2019-09-05T13:43:08","date_gmt":"2019-09-05T18:43:08","guid":{"rendered":"https:\/\/www.mining.com\/?p=1001180"},"modified":"2019-09-05T13:43:08","modified_gmt":"2019-09-05T18:43:08","slug":"chart-gold-price-suffers-biggest-fall-in-six-years","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1136712","title":{"rendered":"CHART: Gold price suffers biggest fall in six years"},"content":{"rendered":"<p>The gold price plunged in early morning trade on Friday, in one of the worst trading sessions in dollar terms in gold market history.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The gold price dropped to $1,514.30 an ounce in mid-morning \u2013 down 3% or $46.10 an ounce from the Thursday&#8217;s settlement of $1,560.40 on the Comex market in New York.<\/p>\n<p>The trades that crushed gold for delivery in December in morning trade came in three short bursts of one million ounce- plus sell orders, forcing bulls back on the defence after a nearly 10% rally since the beginning of August. <\/p>\n<p>Gold regained some of its footing by lunchtime, still more than 2% down on the day, Friday after 55 million ounces of gold had exchanged hands in total in New York. That&#8217;s equivalent to half a year&#8217;s global gold production. <\/p>\n<p>The gold futures market has been quiet in recent years, but today&#8217;s wild swing is in dollar terms the <a href=\"https:\/\/www.mining.com\/how-one-short-sellers-shock-and-awe-crushed-gold-with-a-400-tonne-trade-85866\/\">biggest fall in the price since 2013<\/a> when gold was trading at almost exactly today&#8217;s levels in the mid-$1,500s.  <\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2019\/09\/CHART-Gold-price-suffers-biggest-fall-in-six-years.jpg\" alt=\"\" class=\"wp-image-1001206\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2019\/09\/CHART-Gold-price-suffers-biggest-fall-in-six-years.jpg 659w, https:\/\/www.mining.com\/wp-content\/uploads\/2019\/09\/CHART-Gold-price-suffers-biggest-fall-in-six-years-300x266.jpg 300w\" sizes=\"(max-width: 659px) 100vw, 659px\" \/><\/figure>\n<h2>Wild swings<\/h2>\n<p>Gold ended April 15, 2013 over $87 below the previous closing and never recovered on its way to $1,050 an ounce three years later. On that day 10 million ounces traded within 30 minutes described as a &#8220;<a href=\"https:\/\/www.mining.com\/how-one-short-sellers-shock-and-awe-crushed-gold-with-a-400-tonne-trade-85866\/\">shock and awe<\/a>&#8221; trading strategy by a short seller. <\/p>\n<p>Gold hit a record $1,909 an ounce intra-day on 23 August 2011, but a the next day suffered one of its few triple digit one-day losses when it plummeted $105, ending the week down more than 10% from the all-time high.<\/p>\n<p>Adjusting for inflation, gold\u2019s highest price point ever was on January 21, 1980 when the precious metal hit $850 only to plunge the very next day to $737.50, a 13% fall. <\/p>\n<p>The biggest fall in percentage terms came in February 1983, the yellow metal fell from $475 to $408.50 over two days, a 14% decline.&nbsp;&nbsp;<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/chart-gold-price-suffers-biggest-fall-in-6-years\/\">CHART: Gold price suffers biggest fall in six years<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/\">MINING.COM<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold price bear attacks in series of 1 million ounce sell orders, dropping gold price by 3% on Friday.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/chart-gold-price-suffers-biggest-fall-in-6-years\/\">CHART: Gold price suffers biggest fall in six years<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/\">MINING.COM<\/a>.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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