Claudi Assis
Market Watch
August 24, 2011
SAN FRANCISCO (MarketWatch) — Gold futures on Wednesday suffered their biggest one-day percentage drop since March 2008, as investors booked their profits amid doubts whether the U.S. Federal Reserve will unveil any steps to prop up the U.S. economy. Traders also feared additional margin requirement increases in the U.S. Gold for December delivery GC1Z -5.31% lost $104, or 5.6%, to end the day at $1757.30 an ounce on the Comex division of the New York Mercantile Exchange. That was gold’s worst day since March 19, 2008, when gold declined 5.8%.
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