(RTTNews) - The price of gold continued to plummet for a second session Monday morning after the U.S. Securities and Exchange Commission (SEC) filed fraud charges against Goldman Sachs, a major player in commodities markets, Friday.
Gold for June was down $8.8 to $1,128.10 an ounce, after rising to its 4-month high last week. Gold fell nearly 2% Friday after the lawsuit against Goldman Sachs was announced.
Friday, the SEC accused Goldman Sachs of defrauding investors by misstating and omitting key facts about a financial product tied to sub-prime mortgages.
Meanwhile, the U.S. dollar was trading firm versus the euro and the British pound in morning deals.
Elsewhere, the prices of silver and platinum were also ticking lower.
