On Tuesday, gold for June delivery closed down $16.70 to $1,540.40 an ounce at the Comex division of the New York Mercantile Exchange. Silver prices fell $3.49 to $42.58 an ounce and almost breached the $40 level in after-hours trading.
The Journal said the selling suggested the nine-month, sharp run-up in the precious metals could be entering more dangerous territory.
The newspaper, however, reported that some prominent investment professionals, like hedge-fund manager John Paulson, continue to favor precious metals.
Early Wednesday, gold prices were down a further $4.10 to $1,536.30 an ounce, while silver slipped 84 cents to $41.74. For the latest updates PRESS CTR + D or visit Stock Market news Today
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