Gold suffers biggest one-day drop since 1980s

CHICAGO - Gold futures on the COMEX division of the New York Mercantile Exchange suffered their biggest one-day decline since the 1980s on Monday, as the metal extended its dive into a second straight session and pushed further into bear-market territory.

The most active gold contract for June delivery tumbled $140.3, or 9.27 percent, to settle at $1,361.1 per ounce.