Gold Prices Slide as Investors Opt for Cash

The Street reported that economic concerns caused traders to scramble for cash and pushed gold prices down.

As quoted in the market news:

Gold for December delivery was losing $27.70 at $1,619.30 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,646.50 and as low as $1,607.90 an ounce while the spot gold price was down $22, according to Kitco’s gold index.

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