Metals Commentary: Investors Turn Their Backs On Gold
Gold extended recent losses to hit $802.90 lows after dollar buying momentum picked up.
Gold came under pressure in Asia amid reports of heavy fund selling after Tocom increased its margin on gold positions. Reports arose of panic selling before prices settled in to the European session. Spot gold is currently trading around $810.00 after trading in a range of $802.90-$825.85.