Gold for December delivery plummeted $101.90 to settle at $1,639.80 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,757.90 and as low as $1,631.70, while the spot gold price was down $89, according to Kitco's gold index.
Silver prices torpedoed down $6.47 to close at $30.10 an ounce. The U.S. dollar index was down slightly at $78.33. Silver was getting hammered hard as were all industrial metals on global double-dip recession fears, although in after hours trading silver was climbing into the green.
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