Gold futures settle with a loss of nearly $10

Gold futures settled with a loss Tuesday, pulling back after a 2.1% gain in the previous session. “A period of correction and consolidation may be necessary, given the speed of the recent selloff and the volatility in the gold market,” said Mark O’Byrne, executive director at international bullion dealer GoldCore. “However, the fundamentals remain very sound,” for gold, he said. “The euro-zone debt crisis is far from resolved and contagion remains a real risk.” Gold for December delivery   fell $9.80, or 0.6%, to settle at $1,661 an ounce on the Comex division of the New York Mercantile Exchange. December copper  fell 2.3%, while December silver  added 0.1%. – MarketWatch.com

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Posted by VBN on Oct 12 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry