Gold sank about 2 percent on Wednesday to its lowest since mid-2010, potentially opening the way for a fall to $1,000 as a surging US dollar weakened the investment case for non-yielding bullion. Silver's fall as much as 5 percent to its weakest since February 2010 at just above $15 an ounce. Spot gold skidded to its lowest since April 2010 at $1,137.40 an ounce and was trading down 1.8 percent at $1,146.50 by 2:48 pm EST (1948 GMT).
US COMEX gold futures settled down $22 an ounce at $1,145.70. Trading volume was about 270,000 lots, nearly doubling its 30-day average, and set to the highest turnover since Friday, preliminary Reuters data shows. Silver was down 3.6 percent at $15.43 in late afternoon business, paring losses after hitting $15.13, its lowest since mid-2010. Among the other precious metals, platinum fell 0.6 percent to $1,208.95 an ounce, close to its lowest since 2009, while palladium fell 3.5 percent to $756 an ounce.
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