Gold Sells Off as Crude Oil Resumes Price Slide

New York (Dec 22)  Gold prices have dropped to moderately lower levels as midday U.S. trading approaches. Gold's dip coincided with falling crude oil prices, as Nymex futures traded solidly lower after posting early, slight gains. A lack of fresh, bullish fundamental news for the gold market has allowed the generally weak near-term technical posture to embolden the sellers. February gold was last down $13.20 an ounce at $1,182.80.

Meanwhile, spot silver drops nearly 3% to $15.61 as US equities plow ahead.

Source:  KitcoNews