After hovering near $1,335 for most of the morning, gold plunged to as low as $1,317.20 as precious metals’ weakness continued.Silver dropped alongside the yellow metal, falling 0.9% to as low as $26.79 per ounce.
The sell-off in gold and silver coincided with a rebound in the U.S. Dollar Index (DXY), which after being in negative territory this morning turned modestly positive near 77.86.
Source link:http://www.goldalert.com/2011/01/gold-drops-to-1320-u-s-dollar-rebounds/
