Gold, Silver Have Rally Halted as Energy Commodities Declined

Gold, Silver Have Rally Halted as Energy Commodities Declined

Gold tumbled the most in four weeks after a drop in energy costs reduced demand for the precious metal as a hedge against inflation. Silver also fell.

Crude-oil futures in New York has plunged almost 6 percent in two days after the International Monetary Fund cut growth estimates for Japan and the U.S. Gold rose to a record of $1,478 an ounce yesterday as tensions in Libya, Japan?s nuclear crisis and concern that Europe?s debt crisis will spread boosted demand for an investment haven.

Source: Gold, Silver Have Rally Halted as Energy Commodities Declined