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Gold drops 5 percent, and silver drops more than 13 percent

2020-08-11T21:04:04.049Z

London-SANA Gold prices fell more than 5% today, facing their biggest one-day loss in seven years.London - Sana Gold prices are down more than 5 percent today, facing their biggest one-day loss in seven years. Reuters reported that the price of gold in spot transactions fell 5.2 percent to 1921.40 dollars an ounce in the late trading session, bouncing sharply from its record level of 2072.50 dollars, which it reached on Friday, and to witness its worst day since June 2013. And US gold futur...



London - Sana

Gold prices are down more than 5 percent today, facing their biggest one-day loss in seven years.

Reuters reported that the price of gold in spot transactions fell 5.2 percent to 1921.40 dollars an ounce in the late trading session, bouncing sharply from its record level of 2072.50 dollars, which it reached on Friday, and to witness its worst day since June 2013.

And US gold futures fell 4.6 percent to record at the settlement of 1946.30 dollars an ounce.

Other precious metals took a beating, plunging silver 13.8 percent, the biggest one-day drop since October 2008.

Among other precious metals, platinum fell 4.8 percent to 938.65 dollars an ounce, while palladium fell 5 percent to 2018.60 dollars an ounce.

Source: sena

All business articles on 2020-08-11

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