Gold Trade Equal to 3 Million Ounces Sends Futures Tumbling
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Gold futures tumbled to a three-month low as contracts equal to over 3 million ounces changed hands in half an hour, fueling the sell-off.
In the 30 minutes ended 10:30 a.m. in New York, 33,596 contracts were traded, more than triple the 100-day average for that time of day. That helped pushed the most active contract to as low as $1,448.90 an ounce, the lowest since Aug. 5.