Gold Drops Below $900 as Oil Weakens and Dollar Gains
New York gold and silver fell Tuesday following a decline in oil prices and strength from the U.S. dollar. Platinum recovered some of its Monday losses.
Oil lost more than $2 to close to $118 a barrel. Reuters’ Jan Harvey wrote that traders "focused on rising OPEC supply and easing demand in the United States and Europe."
Silver plunged 57 cents to close to $16.57 an ounce.
Platinum bucked the general commodities sell off and finally posted positive ground, gaining $21.50 to end at $1,584.50 an ounce.
Gold lost $21.80 to end the day at $886.10 an ounce. Its intraday high was $903.90.


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