Gold books biggest daily slide in nearly 7 years with nearly 5% drop

Myra P. Saefong
Gold books biggest daily slide in nearly 7 years with nearly 5% drop

Gold futures on Friday drop by almost 5%, for the sharpest daily slide since June 2013, as investors rush to sell the precious metal to generate cash to cover losses in the stock market, which continued to plunge on rampant worries about the spread of COVID-19 epidemic and its effect on the global economy.