| Gold Prices slipped in quiet trade in London on Monday, retreating near the lowest levels since mid-August at $1119 per ounce as European stockmarkets held flat, ignoring another sharp drop in Asian equities. New data overnight showed China's People Bank growing its gold bullion reserves again in August, extending the growth since end-June's restatement to 2.1%, even as broader reserves fell more than 10%.
Crashing since hitting 7-year highs in June, China's stock market drop "is mostly over," said People's Bank governor Zhou Xiaochuan at a central bankers' meeting on Sunday, calling the 35% plunge a "correction". Returning however from last week's Victory Day commemorations, the Chinese stockmarket dropped 2.5% on Monday...............................................Full Article: Source
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