Investors desperate to get their hands on cash have been selling precious metals in order to gain some liguidity.
As a result, December silver fell by 10.6 percent, losing $1.275 to settle at $10.60 an ounce on the Nymex. It dropped even further in after hours trading.
Gold also plunged, settling at $859 on the Comex division of the NYMEX, as insitutional investors were looking for cash there as well.
Copper also fell significantly as it dropped 10.87 percent, 26.15 cents, to $2.1445 a pound.
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