by Christopher Freeburn | November 27, 2012 4:39 pm
Gold declined on Tuesday as investors worried that Washington might not reach a deal to avoid the fiscal cliff of mandatory tax hikes and spending cuts, even as European negotiators reported progress in Greek debt talks.
Gold futures for December delivery dropped to $1,742.30 on Tuesday, according to CME Group. Gold traded as high as $1,751.90 and as low as $1,741.20. Gold bullion closed in London at $1,742, according to BullionVault.
Silver futures for December delivery slipped to $33.98 per ounce. Tuesday’s high for silver was $34.28, while the low was $33.91.
Gold and silver funds moved lower in Tuesday trading.
Gold and silver mining ETFs also fell during the day.
Gold mining shares declined on Tuesday, with Goldcorp (NYSE:GG) falling the hardest.
Silver mining shares moved lower on Tuesday.
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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