Gold prices drop on Dubai World worries
FRANKFURT (MarketWatch) -- Gold futures fell on Friday but traded off their lows, as Dubai World's debt woes fueled a sell-off in commodities and stocks, while the U.S. dollar gained against its rivals. Gold for December delivery tumbled from a high of $1,195 an ounce to an intraday low of $1,130.10 an ounce in electronic trading on Globex. That is a decline of nearly $65, or more than 5%. In recent trading, gold fell $26.80, or 2.3%, to $1,160.20 an ounce.
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Tags: Commodities, Debt Woes, Decline, Dubai, Electronic Trading, Frankfurt, Globex, Gold Futures, Gold Prices, Lows, Marketwatch, Ounce, Rivals, Stocks, Trading Gold