Gold tanks on fears of deflation

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Gold fell, capping the biggest two- day plunge since 1983, on investor sales following routs in global equity and commodity markets.

More than $3.4 trillion has been erased from equity values this week, sending a global measure of shares into a bear market, on concern that governments are running out of tools to avert a recession. The Standard & Poor’s GSCI Index of 24 commodities fell to a nine-month low today. Gold has dropped 15 percent since reaching a record $1,923.70 an ounce on Sept. 6.

Full story: Gold Plunges More Than $100 as Investors Sell