Flash crash rattles gold markets as Bitcoin (BTC) remains strong

Gold prices have tanked during the Monday morning Asian trading session, compounding losses accumulated over the past week.

On Monday, the price of gold quickly fell to its lowest level since March as a flash crash drove prices below $1,700 per ounce.

According to TradingView, the price of the precious yellow metal plunged to $1,690/oz during Asian trading hours on Monday. The price of gold has since posted a minor recovery, last changing hands for $1,742/oz at the time of writing.

Gold is currently down by 4% over the past seven weeks and 8.7% since trading above $1,900/oz at the end of May. The precious metal has retreated 8% in 2021 so far, and it is currently down 14.6% from its August 2020 all-time high of just below $2,040.

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