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Gold hits five-year low under $1,100 on Chinese selling

Gold prices plunged as much as 4 percent to their lowest in more than five years on Monday as sellers in top consumer China offloaded the metal. Spot gold fell $45.55 to its weakest since March 2010 at $1,088.05 an ounce shortly after the Shanghai Gold Exchange opened, with volumes soaring to a record. It regained some ground, trading above the key $1,100 support level, but was still down 2.2

Cowen: Amazon will be number one U.S. clothing retailer very soon

Amazon is seeing a wave of upgrades just days before it reports quarterly earnings. The team of analysts, led by John Blackledge, sent out a note this morning predicting that Amazon will become the No. 1 U.S. apparel retailer by 2017, “comfortably passing” Macy’s within two years. Keep in mind that, according to Cowen, Amazon’s apparel and accessories segment is driving the sales of electronics and general merchandise (EGM), which makes up roughly 70 percent

Pizzarelli revives McCartney obscurities for jazz

Paul McCartney will forever be identified with The Beatles, but jazz guitarist John Pizzarelli has attempted on a new album to revive some of the legend’s lesser known solo tracks. “‘It might be interesting for you to do a few of my songs that are lesser known than some of the others,’” Pizzarelli quoted McCartney as telling him in a letter. Pizzarelli, explaining the album in a statement, said that

Polish video game 'The Witcher' enchants world

Poland’s new ambassador is a scar-faced hit man armed with two swords and potions against monsters and dragons. “The Witcher” is the brainchild of Warsaw-based CD Project Red, one of a growing number of cutting-edge Polish IT firms out to dominate global gaming. The earlier two instalments in the Witcher series have sold some eight million copies since hitting the market in 2007 and 2011.