Monday, April 15, 2013

Gold Continues To Plummet On Monday

Gold continued its sharp decline during Monday morning trading on COMEX, falling below $1,400 an ounce to a low of $1,386 before recovering slightly at $1,408 as of 10 a.m.

The precious metal is joined by a basket of commodities that are also trading to the downside as the U.S. Dollar strengthens against the Japanese Yen and most European currencies.

Silver was harder hit, trading at $23.73 an ounce as of 10 a.m., which is down 9.88% from its open. Gold was down 6.22% from the open.

The sell-off began on Friday which resumed on Sunday in Asian markets.