Gold sees sharpest fall for decade

The sharp correction - its steepest fall in over a decade in dollar terms - left gold at $1,742, the precious metal having hit a new peak of $1,911 on Tuesday. The fall came as positive economic data emerged from the US. The latest durable goods orders for July increased sharply, while investors were also buoyed by expectations of more quantitative easing, which has lifted markets in recent days. Despite the sharp fall, gold remains around 40% higher than the start of the year. As risk aversion diminished, Treasury yields also rallied. The yield on the benchmark ten-year Treaury cl...