Gold Plunges $56 to Below $2,350, Largest Drop in Nearly Two Years

Gold prices experienced a significant decline of $56, marking the largest one-day drop in nearly two years. The fall in prices was attributed to easing geopolitical tensions, which reduced the demand for gold as a safe-haven asset. The price of gold dipped below the $2,350 mark, with a notable 2.7% drop on Monday. This downturn also impacted mining stocks, which were hit hard by the selloff. The market remains cautious as traders await further key economic data.