Khaberni - Gold prices fell yesterday, moving towards recording the largest daily drop for it since 1983, while silver prices dropped by about 30% heading towards recording the worst day ever.
In spot transactions, gold fell 9.5% to $4883.62 an ounce, after having reached a record level of $5594.82 on Thursday.
The U.S. futures contracts for gold, to be delivered in February, fell by 11.4% to $4745.10 at settlement.
Silver Losses
In other metals, the price of silver in spot transactions fell about 27.7% to $83.99 per ounce, after having earlier reached $77.72. Platinum lost 19.18%, recording $2125 per ounce, and palladium dropped 15.7% to $1681.
