Gold futures turned sharply lower Thursday morning after European Central Bank
(ECB) President Mario Draghi backed off from earlier comments that the ECB would
consider increasing the amount of bonds it would purchase to stem the tide of
the sovereign debt crisis. COMEX gold for February 2012 delivery the most
actively-traded contract slid from near $1,745 to as low as $1,711.70 per
ounce.
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