Gold briefly touches $2000/oz

GOLD had a wild run this week, trading in a $70 range with Comex futures for December delivery briefly hitting $2000 an ounce on Tuesday morning.
Gold briefly touches $2000/oz Gold briefly touches $2000/oz Gold briefly touches $2000/oz Gold briefly touches $2000/oz Gold briefly touches $2000/oz

Staff Reporter

But by 6pm Papua New Guinea time that day, it had dropped back to $1927.50/oz.
 
However, gold was on the way back up on Wednesday morning, reaching $1975/oz.
 
Spot gold rose as high as $1981.27/oz, as low as $1907/oz, and last traded at $1960.10/oz midweek.
 
Silver traded in a $4 range, rising as high as $26.20/oz before falling as low as $22.30/oz.
 
"Some vicious moves overnight with the major action in precious with stops to the topside triggered in the first part of the Asian session before a wave of profit taking sees silver already decline 14.5% from its session high," Marex Spectron's Alastair Munro said.
 
In London, copper rose 1% to $6490 per tonne.
 

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