Spot gold falls below $870/oz as sentiment turns negative

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Thu, Sep 25, 2008
Gold Market News
Post by Melissa Pistilli, Gold Senior Reporter

Reuters reports markets for spot gold fell more than 2% while the US financial sector’s massive bailout is expected to close a deal.

Spot gold was bid at $869.12 an ounce at 1437 GMT from $881.00 late in New York on Wednesday.

Traders said negative sentiment had been reinforced by selling related to options ahead of contract expiry.

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