Sell-Off Spreads to Precious Metals: Gold Loses $4,100 Level, Silver Futures Plunge Over 5%
NEW YORK — Thursday's Wall Street sell-off spread to precious metals: COMEX December gold futures fell 2.66% on October 22 to close at $4,039.80 an ounce, losing the $4,100 level, while December silver futures plunged 5.34% to $54.63 an ounce. According to Xinhua Finance, safe-haven money did not flow into precious metals amid the techstock rout; instead they were sold off alongside risk assets.
The Philadelphia Semiconductor Index tumbled 6.72% with all 30 components lower, and the Nasdaq fell 2.60% for its worst day since June (covered earlier by GSM). Oil bucked the trend: NYMEX December crude rose 2.39% to $99.47 a barrel, and Brent gained 4% to $113.17, touching a roughly five-month high.
(GSM, from Xinhua Finance)
Source: GSM · America
Source: GSM · USA (original Chinese edition)
Photo: 法兰西银行金锭与金条（资料图）。照片：Ibex73，CC BY 4.0，经 Wikimedia Commons。 / File photo. Photo: Ibex73, CC BY 4.0, via Wikimedia Commons.
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