From Chris Mullen at GoldSeek.com...
Gold Prices rose a few dollars to $929.15 by late trade in Asia on Tuesday and held near $925 in London before plunging more than 2% early in New York.
Oil fell on worries that recent high prices may finally be starting to cut into demand. Supply concerns in Nigeria and Mexico seemed to have little impact on the market.
The US Dollar index rose and Treasury bonds fell as a better than expected New Home Sales report pushed US interest rates higher in the open market. A weaker than expected German confidence report helped dent the Euro on the currency markets.
The Gold Market then bounced higher into the close and ended four dollars off that low with a loss of 1.92%.
Silver rose to $18.31 and plummeted to $17.37 before it closed with a loss of 4.39% for the session.
The Gold Price in Euros fell to about €577, platinum lost $43.50 to $2123, and copper fell slightly to about $3.74.
Gold and silver equities fell about 3% at the open and remained near their lows into the close, while the Dow, Nasdaq, and S&P mostly rose on optimism over the housing sector and lower energy prices.
But also making economic news was the Standard & Poor's/Case Shiller composite index of 20 metropolitan areas that fell 2.2% in March from February and plummeted a record 14.4% from a year ago.
Wednesday at 13:30 GMT brings US Durable Goods Orders for April, expected at minus 1.5%.
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