Evening Gold: Gold Crashed Below $1,200

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In late U.S. trading,  Thursday, Comex gold futures prices strongly dived deep and hit another fresh nearly three-year low below $1,200.00. Pre-placed sell stop orders were activated on the down-move, to worsen selling pressure. The sharp price decrease overlapped with reported remarks from Atlanta Federal Reserve President Dennis Lockhart. Spot gold was last quoted down $23.40 at $1,202.50. Comex August gold was last down $28.70 at $1,201.10 an ounce.

The London P.M. gold fixing is $1,232.75.