Gold Plunges 5.6%, Ending Below $1,800
Gold futures ended the regular session down by $104, or 5.6%, at $1,757.30 an ounce for the most-active contract, in the second-biggest dollar decline ever.
Gold futures are falling sharply Wednesday, with the precious metal losing $86.30, or 4.6%, to trade at $1,775.50 an ounce on the Comex division of the New York Mercantile Exchange.
Analysts said the metal’s failure to top $1,900 an ounce appears to have marked a near term top given gold’s steady rally all year.
Still Wednesday’s sharp decline is a candidate for one of the metal’s worst days ever, in percentage losses.
The 10 worst days for gold, according to data compiled from FactSet Research:
| -7.30 | 6/13/2006 |
| -5.83 | 3/19/2008 |
| -5.51 | 8/05/1993 |
| -5.37 | 5/24/2006 |
| -5.15 | 12/01/2008 |
| -4.85 | 10/02/2008 |
| -4.83 | 10/24/1997 |
| -4.41 | 2/04/2010 |
| -4.27 | 10/22/2008 |
| -4.23 | 8/11/2008 |
| -4.11 | 10/16/2008 |
| -4.01 | 12/04/2009 |
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