Gold Slides With World Markets

Updated from 11:39 a.m. EST

Gold slid again Monday as investors scrambled to raise cash while stock indices slid across the globe.

Contracts for April delivery of gold dipped $4.90 to close at $639.20 an ounce on the Comex division of the New York Mercantile Exchange. Those exchange-traded funds that hold bars of bullion were retreating also, with streetTracks Gold Shares (GLD Quote) and iShares Comex Gold Trust (IAU Quote) both lower by 0.8%.

Asian markets kicked off the week sharply lower with major indices down in Tokyo, Hong Kong and Singapore. The downdraft continued as the European and North American markets successively opened. ...