Gold price today: What just knocked gold, GLD and Newmont lower after record highs
Spot gold dropped 4.5% to $4,330.79 an ounce Monday, reversing from record highs after CME Group raised margin requirements for precious metals futures. Gold futures settled down 4.6%. SPDR Gold Shares ETF fell 4.35%, while Newmont lost 5.64%. The selloff followed a sharp year-end rally and was intensified by thin holiday trading.