Gold Posts Biggest Drop in Three Months

Gold dropped nearly $30 today, its largest decline since July. Gold retreated to $1,336 an ounce.

The news coincided with a surprise move by China. The one-year lending rate was raised 0.25 percentage points. The government is raising interest rates and trying to fight inflation and slow its economy.

The news hit the miners causing the TSX Venture Exchange to drop 1.27 percent to 1,814.91.