Gold for February delivery GCG5, -0.92% dropped 14.80 points, or 1.2%, to settle at $1,207.70 an ounce, while March silver SIH5, -2.70% sank 49 cents, or 2.9%, to $16.56 an ounce.
Gold and oil prices have been moving in tandem recently with gold taking its cue from the oil market more frequently.
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