ALERT ALERT: Gold price tumbles to yearly low, trades under $1,700 following Friday's massive sell-off

Tokyo (Aug 9)  Gold futures dropped sharply on Sunday evening at the start of the Asian trading session.

Gold October Futures dropped to low of $1,677 before recovering. As of 8:20 p.m. ET, gold is off 2.19% to $1,722. Silver October futures lost 3.5% to $23.74. Platinum was also off, losing 1.24% to $960 for October futures.

Spot gold is seeing it's worst two-day cash drop since April 2020 as the world started to feel the impact of the COVID-19 pandemic.

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