Monday, November 12, 2007

NY gold, silver futures sink as investors flee risk

(Reuters) - Gold futures in New York slid 2.5 percent and silver sank 3.4 percent at the open of Monday's pit session on heavy selling amid the latest round of risk aversion in the global markets.

At 8:27 a.m. EDT , most-active gold for December delivery on the COMEX division of the New York Mercantile Exchange slid $20.3 or 2.4 percent to $814.40 an ounce.

COMEX December silver contracts shed 53.5 cents or 3.4 percent to $15.01 an ounce. (Reporting by Frank Tang, Editing by John Picinich)

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