The announcement of the Federal Reserve’s January tapering plans sent gold prices on a volatile ride that saw the front-month contract push into positive territory before giving it all back, plunging on Thursday to levels not seen since June.
Continuing selling from Asia, gold for February delivery tumbled $32.60, or 2.6%, at $1,202.10 an ounce in the early hours of Europe trading. The contract hit a low of $1,198 an ounce, trading under that key $1,200 level for the first time since June. March silver was hit even harder, down 78 cents, or 3.9%, to $19.28 an ounce.
Source: Marketwatch
