Mon, 26 Sep 2011

Bubble-icious – Gold Prices Plunge

By Erika W.

Safe Haven? Gold prices drop below $1,600 after hitting a record $1,920 per ounce just weeks ago.

JCK News: Gold Price Sees Biggest Slide in Decades

The price of gold experienced its biggest three-day plunge in decades, sinking below $1,600 an ounce, more than 15 percent lower than the record levels it hit earlier in September.

CNN Money – Gold prices: Biggest plunge since ’80’

Gold prices continued to plunge Friday, despite the market turmoil that often drives investors to the traditional safe haven.

Gold tumbled $101.90, or 5.9%, in regular trading to $1,639.80 an ounce. It’s the second straight day of steep declines for the precious metal.

P.M. Kitco Metals Roundup: Comex Gold Ends Solidly Lower on Weak Long Liquidation, Margin-Call Selling

Comex December gold futures prices ended solidly lower Monday, and in the middle of a wide daily trading range, amid more margin-call selling and the liquidation of weak long positions. Prices early Monday spiked to a fresh 2.5-month low of $1,535.00 an ounce.

WSJ: Gold and Silver: Safe Havens No More

Gold was recently down 2.8% to $1594.70 an ounce, which would be the lowest close in more than two months. $1900, its level just 20 days ago, seems like a distant memory now.

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