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  • Gold futures plunging further



    By Sarah Turner, MarketWatch

    SYDNEY (MarketWatch) — Gold futures took another tumble in Asia on Thursday, dropping almost $20 an ounce as investors moved out of the precious metal.

    Comex gold for delivery in April GCJ3 -0.69%  fell $19 in electronic trade to hit $1,559.00 an ounce.

    Reuters
    In regular trading on Wednesday, gold skidded $26.20, or 1.6%, to settle at $1,578 an ounce on the Comex division of the New York Mercantile Exchange, marking its fifth straight session of losses. Read: Gold sinks below $1,600 amid ‘death cross’ talk

    “Bullion’s slide continued amidst heavy macro-hedge-fund liquidation in early trading ahead of the release of Federal Open Market Committee meeting minutes,” said HSBC metal analysts, discussing Wednesday’s losses in New York.

    The regular Comex session for gold closed before the release of the Federal Reserve minutes, which prompted another drop in the gold price to $1,570 an ounce on Globex.


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