Gold Extends Losses As 4 Million Ounces Sold In 15 Minutes
(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.
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