Gold Seeker Closing Report: Gold and Silver Fall Nearly 4% and 5%
The Metals:
Gold and silver remained near unchanged in Asia and London, but they then plummeted at the New York open, remained near their lows for the rest of trade, and gold closed about 0.5% off its low of $816.80 with a loss of 3.89% while silver closed at its low of the day with a loss of 4.88%.
Euro gold fell to about €612, platinum lost $28.50 to $960.50, and copper fell over 7 cents to about $1.48.
Gold and silver equities fell over 6% in the first hour of trade and remained near their lows into the close.
The Economy:
There were no major economic reports today. Tomorrow at 8:30AM EST is the Trade Balance for November expected at -$51.0 billion and at 2PM is the Treasury Budget for December expected at -$33.0 billion.
