From the BBC:
At least 16 people were killed when the gold price collapsed on Monday, authorities say.
Support at $1,400/oz caved in at an abandoned trading pit in the City of London that was said to be popular with illegal speculators. Rescuers removed 16 bodies after the collapse on Monday, police said. It was unclear how many people had been at the London Metals Exchange, but officials said they did not believe anyone else remained trapped.
London is one of the world's major gold trading centres. According to late Mediaeval legend, its streets are "paved with gold". Local official Peter Owusu-Ashia told Reuters that another injured trader later died in hospital. This would take the death toll to 17.
Illegal short selling is a major concern on US and UK exchanges, where operators use sophisticated logarithms to forecast and manipulate the price.
"It is an abandoned metals exchange that has attracted a lot of illegal market manipulators," said Mr Owusu-Ashia. He added that intense efforts at international level had failed to discourage such activities.
More than 120 Chinese nationals were arrested in Shanghai as part of a renewed clampdown against illegal trading in March. Around 100 people were feared dead after a gold pyramid selling scheme collapsed after heavy withdrawals in 2010.
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