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Gold, silver prices tumble to lowest since late 2010
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London, Jun 26, 2013: Gold and silver prices tumbled to their lowest in nearly three years on Wednesday as investors liquidated precious metals after well-received U.S. data fuelled fears the Federal Reserve would rein in its ultra-loose monetary policy.
Spot gold slid to its lowest since September 2010 at $1,233.05 an ounce and was down 3.1 percent at $1,237.36 an ounce at 0807 GMT. U.S. gold futures for August delivery were down $37.90 an ounce at $1,237.20.
Silver hit its lowest since August 2010 at $18.55 an ounce and was down 4.4 percent at $18.81 an ounce.
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| Comments on this Article | |
| A. S. Mathew, U.S.A. | Wed, June-26-2013, 7:08 |
| Investors in gold are losing their blind trust in gold as an infallible commodity to be trusted and the world economic crisis has created less disposable income for the millions around the world; on the other hand, there is plenty of gold production in the world. Thus equation will force the gold price to decline before our eyes-surprising our wrong calculation and blind trust in gold as "GOD". | |
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