Gold Prices Hit Five-Year Low

The tech heavy Nasdaq hit a fresh intraday record right after the opening bell Monday and held on to close at a brand new record high, its third in a row and ninth of 2015. Nasdaq darling Facebook powered ahead to its own record high as well.

The S&P was on track to close at a new record high but missed, slipping slightly ahead of the close.

As the markets pushed higher, gold did the complete opposite, dramatically falling. The precious metal has lost luster for eight straight sessions and hit a five-year low Monday. Gold dropped $25.10, or 2.2%, to settle at $1,106.80 an ounce.

IBM reported second quarter earnings after the bell. IBM beat on EPS but missed slightly on revenue. The company reported it now expects a modest increase in free cash flow year-over-year for the year and was impacted by currencies in the last quarter, but that did not impress investors who sold after hours.

Shares of IBM were down were down 4% in the after market.