Gold slid below $1,600 an ounce and headed for the biggest two-day slump in a month as some investors sold the metals to cover losses in other assets.
Gold for December delivery fell as much as $104.80, or 6.4 percent, to $1,535 an ounce, the lowest since July 8, and was at $1,619.30 by 9:57 a.m. on the Comex in New York.