by Christopher Freeburn | October 9, 2012 4:58 pm
A bleak forecast for worldwide economic growth from the International Monetary Fund and worries over an increasingly sluggish China sent gold down for a third straight trading session.
Gold futures for December delivery dropped to $1,765 on Tuesday, according to CME Group. Gold traded as high as $1,781.60 and as low as $1,762. Gold bullion closed in London at $1,767, according to BullionVault.
Silver futures for December delivery also slipped, closing down at $33.99 per ounce. Tuesday’s high for silver was $34.26, while the low was $33.57.
Gold and silver funds slipped in Tuesday trading.
Gold and silver mining ETFs moved lower for the day.
Gold mining shares retreated on Tuesday, with Goldcorp (NYSE:GG) showing the biggest decline.
Silver mining shares closed down in Tuesday trading.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.
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