Precious metals slip as markets digest fund selling
Gold futures fell on the Comex amid fund liquidation and dealer selling. December gold closed at 397.90 per ounce, with support around 395 to 392. September silver also declined as fund and dealer selling persisted. Cocoa and sugar markets moved mixed with rainfall in Ivory Coast and a surge in volume on cocoa.
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Stocks slide as tech woes drive market retreat
Wall Street fell amid rising oil prices and a weak tech outlook after Cisco Systems warned on spending and National Semiconductor faced a downgrade. The Nasdaq dropped 1.4 percent and the Dow eased as investors weighed rate hike implications and energy costs. Cisco fell 11 percent after its after hours report, while the S P 500 slid modestly.
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