Gold plummeted on Thursday October 16, and continued to fall on Friday, as global anxiety about the economy hit nearly all assets, amid widespread deleveraging.
The London Bullion Market Association Gold Fixing fell from $847 a troy ounce on the afternoon of Wednesday October 15 to $802.50 the following afternoon. By Friday afternoon it was down to $784.50.
Gold futures on Comex fell from an opening price of $851 to a close of $804.50 on Thursday. These futures have been very volatile over the past couple of months.
After...