Gold dropped around 1 percent on Thursday, losing its usual safe-haven appeal as anxiety over the lack of progress to boost the eurozone bailout fund magnified worries about weak demand and global growth. The metal has fallen 4 percent during its current four-day losing streak, largely moving lower in tandem with riskier assets such as equities.
Copper, the bellwether industrial metal, dropped more than 5 percent on Thursday, beset by economic jitters. Spot gold fell 1.2 percent to $1,621.11 an ounce by 2:55 pm EDT (1855 GMT). US December gold futures settled down $34.10 at $1,612.90. Volume for Thursday's pullback was among the highest in the last two weeks, in line with its 30-day average. Silver fell 1.7 percent to $30.43 an ounce. Among platinum group metals, palladium was last down 1.8 percent at $586.25 an ounce, while platinum fell 1.2 percent to $1,492.24 an ounce.
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