Spot gold prices have dropped to their lowest since August 2010, down 4.2% at the time of writing to $1,224.30 an ounce, as better-than-expected economic data in the U.S. yesterday strengthened the likelihood that the Fed will soon start tapering its QE program. Gold has fallen around 25% this year and assets in the SPDR Gold Trust ETF (GLD) are 28% lower, hitting 969.5 metric tons yesterday. Silver (SLV) has been similarly battered, with spot prices -5.4% at $18.58 an ounce.
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