Silver prices for December delivery were slumping 92 cents to $22.26 an ounce, while the U.S. dollar index was off 0.16% to $81.39.

Gold ETF SPDR Gold Trust ( GLD) was declining 2.4% to $128.57 a shares, while iShares Gold Trust ( IAU) was losing 2.4% to $12.93 a share.

-- Written by Joe Deaux in New York.

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