GOLD PLUNGE: Gold lost nearly $58 to settle at $1,614, its lowest close since early January. Gold is well below its recent high of $1,788 reached in late February.
DOLLAR SURGE: A jump in the value of the dollar was the main culprit behind the sharp drop in gold prices. Investors often buy gold when they think the dollar is going to weaken, and sell it when the dollar gains value.
OTHER METALS TARNISHED: Metals prices fell broadly. Silver dropped 6.7 percent, copper 3.3 percent. Platinum and palladium both fell about 4 percent.