May 1: Gold and Silver Fall Almost 1% and 2%

Gold fell $6.70 to $1261.70 in Asia before it jumped back to unchanged at $1268.40 after this morning’s economic data was released, but it then fell to a new session low of $1254.30 in early afternoon New York trade and ended with a loss of 0.88%. Silver slipped to as low as $16.806 and ended with a loss of 1.92%.