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Message: US gold hits 3-month low on technical selling

US gold hits 3-month low on technical selling

posted on Feb 04, 2010 10:54AM

NEW YORK, Feb 4 (Reuters) - U.S. gold futures hit a three-month low on Thursday as a sharply weaker euro dragged bullion prices below key support, triggering heavy stop-loss orders.

Other precious metals tumbled too, with silver down 4.6 percent, platinum down 3 percent and palladium almost 4 percent lower.

Gold futures for April delivery <GCJ0> were down $38, or 3.4 percent, at $1,074 an ounce at 10:26 a.m. EST (1526 GMT) on the COMEX division of NYMEX. The session low of $1,065.20 was the cheapest since Nov. 2.

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