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Gold Extends Losses As 4 Million Ounces Sold In 15 Minutes

Kitco News

Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices have moved to solidly lower levels on the day in late-morning action Friday. Early losses were extended as profit-taking from the shorter-term futures traders is featured, ahead of the weekend. Gold prices dropped significantly as 4 million ounces of paper gold was dumped in the futures markets in a 15 minute period.

December gold was last down $11.70 at $1,275.80.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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