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Silver ends down 8%, copper is down 7%, palladium down 6%
Gold futures tumbled 3% Thursday in a broad commodities sell-off, coming under heavy pressure amid a global stock rout fuelled by deepening troubles in the credit and subprime markets.
Gold for December delivery tumbled $21.70, or 3%, to close at $658 an ounce on the New
York Mercantile Exchange.
Other metals futures also declined sharply, with silver selling off 8%, copper dropping 7% and
palladium dropping 6%. Energy futures also tumbled. See Futures Movers.
On Wall Street, U.S. stocks staged a dramatic reversal in the final hour of trade, helping the
Dow industrials to recover from a 340 point deficit to finish slightly lower. The Dow Jones
Industrial Average closed down 15.69 points, or 0.1%, at 12,845.78
points. |
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