Gold and silver are getting smoked

Gold and silver are getting smoked

Early Thursday, gold fell by up to 2.7%, or $US32.50 an ounce, to as low as $US1176.10 an ounce.

The precious metal had rallied above the key $US1200 level but has tumbled again.

Silver fell by nearly 5% to as low as $US15.81.

The plunge in the commodities come as stocks trade in the red, with the Dow falling by as much as 122 points in trading.

Here’s the latest plunge in gold:

And in silver:

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