Spot gold prices have dropped to their lowest since September 2010, falling 2.6% earlier today...

|By:, SA News Editor

Spot gold prices have dropped to their lowest since September 2010, falling 2.6% earlier today to $1,244 an ounce, as better-than-expected economic data in the U.S. yesterday strengthened the likelihood that the Fed will soon start tapering its QE program. Gold has fallen 25% this year and assets in the SPDR Gold Trust ETF (GLD) are 28% lower, hitting 969.5 metric tons yesterday. Spot gold now -2.2% at 1,248.10.