Gold, silver prices tumble to lowest since late 2010

 

Gold and silver prices tumbled to their lowest in nearly three years on Wednesday as investors liquidated precious metals after well-received US data fuelled fears the Federal Reserve would rein in its ultra-loose monetary policy.

 

Spot gold slid to its lowest since September 2010 at $1,233.05 an ounce and was down 3.1 % at $1,237.36 an ounce at 0807 GMT. US gold futures for August delivery were down $37.90 an ounce at $1,237.20.

 

Silver hit its lowest since August 2010 at $18.55 an ounce and was down 4.4 % at $18.81 an ounce.