Gold Prices Hit Five-Year Low

FOXBusiness

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.

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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.

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