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Keyword: panicgoldselling

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  • Kitco Metals Roundup:Comex Gold Hammered Lower, Hits 3-Month Low, On Panic Selling

    12/14/2011 1:41:43 PM PST · by Mariner · 45 replies · 1+ views
    Kitco News ^ | 12/14/2011 | Jim Wyckoff
    (Kitco News) - Comex February gold futures prices careened lower and hit a fresh nearly three-month low on follow-through selling pressure from the strong losses posted in afternoon trading Tuesday. It was a “risk-off” trading day in the market place Wednesday, and that was very bearish for the precious metals. A stronger U.S. dollar and sharply lower crude oil prices were also major bearish factors for gold Wednesday. Fresh, serious near-term technical damage has been inflicted in gold this week. February gold last traded down $76.80 at $1,586.60 an ounce. Spot gold last traded down $47.00 an ounce at $1,584.50....