Gold futures (GLD) were -6.05% at $1416.80 an ounce premarket, continuing a sell-off that began late last week and has turned into a full-scale stampede. A number of reasons have been given for gold's free-fall, chief among them the ECB's pressurization of Cyprus' central bank to sell its gold reserves to help pay for the country's bailout. Other precious metals are also suffering, with silver (SLV) -12.15% and platinum -4.05%.
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