Updated on
Summary The precious metal lost $104 in New York to end at $1,757.30 an ounce.
Gold futures post their biggest one-day loss since January 1980, as investors sold into a rally that pushed gold to a record of more than $1,911 dollars an ounce. Gold lost $104 in New York to end at $1,757.30 an ounce. Analysts said it was only a matter of time - because the rally had gone too far, too fast. The precious metal had gained up more than $400 an ounce since July.Investors got a spark of positive news - as orders for durable goods rose more than expected in July. That eased concerns the U.S. is headed for another recession.
Featured
