Spot gold fell Thursday to its lowest price in almost three years as investors digested comments from the U.S. Federal Reserve that stoked fears of a scaling back of bond purchases that have been a crucial support for the yellow metal.
In the European session, spot gold tumbled 4.7% on Wednesday's settlement to trade as low as $1,286.27 a troy ounce, its lowest price since September 2010, and the first time that the metal had traded below the $1,300-an-ounce level since then. Silver fell some 7.4% to $19.748 an ounce, also its lowest since September 2010.
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