Tuesday, August 23, 2011

Gold’s Win Streak Snapped amid Plunge to $1,830

Golds five session win streak of new all-time highs ended with a bang on
Tuesday. COMEX gold futures per the December contract surged to a fresh high
of $1,917.90 in overnight trading, but subsequently tumbled amid broad-based
liquidation in precious metals. Gold futures settled lower by $30.60, or 1.6%,
at $1,861.30 per ounce on the COMEX, but extended their losses in electronic
trading later this afternoon.

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