Gold Tumbles to $1,800, Silver Drops to $41

Precious metals turned sharply lower Wednesday as risk aversion continued to
subside in financial markets. Gold futures initially climbed to $1,855 this
morning, but plunged $60.00 to $1,801.30 per ounce as of 9:06am ET. Silver
followed suit, sliding $1.32, or 3.1%, to $40.97 per ounce. The sell-off in
precious metals coincided with a rebound in the broader equity markets.