| Negative sentiment swamped the gold market on Tuesday as traders bet on a positive outcome for Greek debt negotiations and the breach of key technical levels put further pressure on the metal. In heavy post-holiday volumes on the Comex division of the New York Mercantile Exchange, gold futures for April delivery – the most active contract – plunged to $1,202.71 an ounce in mid-morning trade, down $24 or 2% from Monday's close.
Gold gapped down shortly after the open and after breaking through its 100-day moving average, succumbed to more weakness. After a big bounce on Friday, silver's stellar 2015 also ran into trouble with March contracts falling as much as 6% or more than $1.00 to $16.26 an ounce...............................................Full Article: Source
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