MarketWatch reported that gold futures tumbled more than $20/ounce on Thursday, pushed down by a report that suggests global demand is waning.

As quoted in the market report:

Selling sentiment in gold keyed off “a weak demand summary from the World Gold Council partly influenced by very tough year-over-year comparisons to the big runup in gold demand associated with the U.S. budget fiasco in August 2011,” said Richard Hastings, macro strategist at Global Hunter Securities.

To view the full MarketWatch report, click here.