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Gold Futures in Tokyo Sink Most in 18 Months on Spot Price, Yen

Gold futures tumbled the most since September 2011 in Tokyo after spot prices extended the biggest drop in 30 years and the yen strengthened against the dollar, spurring a sell-off. Silver, platinum and palladium also slid in Tokyo.

Futures for delivery in February 2014 sank as much as 10 percent to 4,132 yen per gram ($1,324 an ounce), the lowest intra-day level since August, on the Tokyo Commodity Exchange before trading at 4,170 yen at 11:14 a.m. local time. With yesterday’s 8.2 percent decline, yen-priced gold has had its biggest two-day slump since March 1982.