From Chris Mullen at GoldSeek.com...
Gold traded slightly lower in Asia on Tuesday and then fell off in London and New York to drop as low as $726.40 per ounce.
Gold Bullion prices then rallied over 1% from that low in the last couple of hours of trade, but still ended with a loss of 1.8% for the session.
Silver dropped to as low as $9.55 before it also rebounded, but it still ended with a loss of 4.5%.
The Gold Price in Euros rose to €586 on weakness in the single European currency, while platinum lost $33.50 to $816 and copper fell over 10 cents to about $1.84.
Gold and silver equities fell over 8% by late morning before they cut some of their losses in afternoon trade, but they still ended with over 6% losses.
There were no major US economic reports out Tuesday, and there are none due out Wednesday.
Oil fell below $59 a barrel at one point to a new 21-month low and ended with a 5% loss overall on renewed economic worries that sent the US Dollar index higher on another move to cash.
That also sent the Dow, Nasdaq, and S&P markedly lower on more dismal and rather desperate news from various US corporations. All three indices rallied back near unchanged after Federal Housing chief Lockhart announced at 14:00 EST more steps to try and help Fannie and Freddie stop foreclosures, but stocks then fell back off into the close again and ended with about 2% losses.
The US Treasury bond market was closed for Veteran’s Day.