Gold Tumbles Most in Three Weeks on Fiscal-Cliff Concerns
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Gold futures fell the most in three weeks as pessimism on a U.S. budget resolution eroded demand for commodities.
On the Comex in New York, gold futures for February delivery tumbled 1.5 percent to settle at $1,718.80 an ounce at 1:38 p.m., the biggest drop for a most-active contract since Nov. 2. In the first 30 seconds of floor trading, 7,700 contracts traded, according to PVM Futures Inc.