India, Aug. 11 -- Gold prices fell on Monday as the industry awaits clarification about reports suggesting the US plans to tax gold imports. The surprising news that surfaced last Friday sent gold prices upwards last weekend.
Front Month Comex Gold for August delivery plunged $86.00 (or 2.50%) to $3,353.10 per troy ounce.
Front Month Comex Silver for August delivery slumped 75.50 cents (or 1.97%) to $37.662 per troy ounce today.
Last Friday, gold prices surged following a Financial Times report which stated that one-kilo bullion bars imported by the US may be subjected to new levies, contrary to the earlier assumption that the gold trade would not be touched by the US government's aggressive tariff plans.
The precious metal has climbed ...