Gold Hits Three Month Low; EUR/USD Seven Month Low
February 4th, 2010Via: Reuters:
Gold tumbled 3.8 percent to a three-month low in Europe on Thursday as the euro hit its weakest in seven months against the dollar, pushing the precious metal through key technical support levels.
Other precious metals also fell, with silver sliding more than 5 percent to its lowest since September, platinum dropping more than 3 percent and palladium down nearly 4 percent.
Spot gold fell to a low of $1,066.30 an ounce and was bid at $1,074.30 an ounce at 1538 GMT, against $1,108.85 late in New York on Wednesday.
U.S. gold futures for February delivery on the COMEX division of the New York Mercantile Exchange fell $36.20 to $1,075.20.
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