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    HomeNewsBusinessMarketsGold tumbles 3%, set for biggest drop since Dec

    Gold tumbles 3%, set for biggest drop since Dec

    Gold prices tumbled more than 3% in volatile trade on Wednesday to a session low at USD 1,724.40 an ounce, putting the precious metal on track for its biggest one-day drop since December 14, as the dollar hit a session high versus the euro.

    February 29, 2012 / 23:08 IST

    Gold prices tumbled more than 3% in volatile trade on Wednesday to a session low at USD 1,724.40 an ounce, putting the precious metal on track for its biggest one-day drop since December 14, as the dollar hit a session high versus the euro.


    In 2-1/2 hours of open outcry trading on COMEX, the volumes of gold traded were greater than those seen in the whole of Monday, data from the CME Group showed.

    Spot gold was down 3% at USD 1,731.70 an ounce at 1556 GMT.

    first published: Feb 29, 2012 09:36 pm

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