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    Friday, November 27, 2009

    Gold Drops First Day In 10 On Dubai Worries

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    By Moming Zhou
    MarketWatch Pulse
       

      NEW YORK -- Gold futures fell Friday, ending their nine-session winning streak, as Dubai's debt woes fueled a sell-off in commodities and stocks, while the U.S. dollar gained against its rivals. Gold for December delivery tumbled from a high of $1,195 an ounce to an intraday low of $1,130.10 in overnight electronic trading. That's a decline of nearly $65, or more than 5%. It reduced losses in floor trading, with the contract ending down $12.80, or 1.1%, at $1,174.20 an ounce on the Comex division of the New York Mercantile Exchange.

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