Gold Retreats as Some Investors Sell to Cover Losses in Equity Markets

Bloomberg reported that gold prices dropped as investors tried to recoup losses in equity markets by selling the precious metal.

The market news is quoted as saying:

Gold for December delivery fell $35.20, or 1.9 percent, to $1,824.30 an ounce by 12:13 p.m. on the Comex in New York. Immediate-delivery gold was 1.9 percent lower at $1,821.22 in London.

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