Gold, silver prices tumble to lowest since late 2010

Gold, silver prices tumble to lowest since late 2010

Gold and silver prices tumbled to their lowest in nearly three years on Wednesday as investors liquidated precious metals after well-received U.S. data fuelled fears the Federal Reserve would rein in its ultra-loose monetary policy.

Spot gold slid to its lowest since September 2010 at $1,233.05 an ounce and was down 3.1 percent at $1,237.36 an ounce at 0807 GMT. U.S. gold futures for August delivery were down $37.90 an ounce at $1,237.20.

Silver hit its lowest since August 2010 at $18.55 an ounce and was down 4.4 percent at $18.81 an ounce.

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