5
February
Gold posts biggest one-day loss since 2008
5 February 2010 Reuters
Bullion tumbled more than 4 percent in heavy trade, briefly falling below $1,060 an ounce as escalating sovereign debt fears in Europe prompted investors to bid up the dollar and unload riskier assets.
Other precious metals also fell. Silver slid nearly 7 percent to its lowest since September, platinum dropped more than 4 percent and palladium fell 6 percent.
Scott Meyers, senior analyst at Pioneer Futures, a unit of MF Global, said gold has slid below technical support levels.
