Spot Gold Declines Sharply, Touching $4860/oz

Spot gold has seen its decline widen, reaching $4860 per ounce, a 2.60% drop on the day.

New York gold futures are down 3.00% for the day, trading at $4886.00 per ounce. Meanwhile, New York silver futures have plunged 7.00%, currently priced at $72.51 per ounce.

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