Unusually high gold selling last week resulted in gold prices lurching to a five-year low. The most actively traded contract for August delivery fell $3.30, or 0.3%, to settle at $1 103.50 a troy ounce on the Comex division of the New York Mercantile Exchange, the lowest settlement since March 25, 2010, when prices closed at $1 102.90/oz. Last week, gold fell so fast that investors ran scared in giving the lie to the yellow metal’s long-held safe-haven status. Gold’s fall was exacerbated by data out of China that showed Beijing buying less gold than forecast. In addition, gold selling was caused by the metal falling below perceived support levels. The bear market in gold is now 1 428 calendar days long, the second-longest on record, which has seen gold fall some 42%, its fourth-worst plunge since its August 22, 2011, peak of $1 888.70/oz. In contrast, gold’s prior rally lasted 11-plus years and saw gold lift 646%.