Silver Posts Worst Day Since 1984, Erases 2011 Gain

Silver futures plunged Friday, with the COMEX December 2011 contract settling lower by $6.48, or 17.7%, at $30.10 per ounce.  Silver reached an intra-day low of $29.845 per ounce earlier this afternoon.

In doing so, gold’s sister precious metal posted its largest single-day decline since at least 1984 – according to FactSet Research, which does not have data going back further.  The previous record drop was a 13.8% fall on April 20, 2006.
Read More »

Gold Futures Tumbles Over $100, Most in Five Years

The gold price tumbled Friday amid massive liquidation in the precious metals complex.  COMEX gold futures for December 2011 delivery settled with a loss of $101.90, or 5.9%, at $1,639.80 per ounce.  This marked the largest single-day decline for a most-active gold futures contract since June 2006, more than five years ago.
Read More »

Gold Hits 7-Week Low, Silver Reaches 7-Month Low

The sell-off in gold and silver accelerated on Friday as precious metals came under significant pressure yet again.

The spot gold price tumbled as much as $66.45, or 3.8%, to $1,674.30 per ounce – its lowest level since August 5, seven weeks ago.
Read More »