Inside Financial Markets

Gold, silver prices tumble to lowest since late 2010 = RTRS

banksGold, silver prices tumble to lowest since late 2010 = RTRS

LONDON, June 26 (Reuters) – Gold and silver prices tumbled to their lowest in nearly three years on Wednesday as investors liquidated precious metals after well-received U.S. data fuelled fears the Federal Reserve would rein in its ultra-loose monetary policy.

Spot gold XAU= slid to its lowest since September 2010 at $1,233.05 an ounce and was down 3.1 percent at $1,237.36 an ounce at 0807 GMT. U.S. gold futures GCv1 for August delivery were down $37.90 an ounce at $1,237.20.

Silver XAG= hit its lowest since August 2010 at $18.55 an ounce and was down 4.4 percent at $18.81 an ounce.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)