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Gold and silver are tumbling

The price of precious metals are sinking on Thursday, continuing a streak of losses for the commodities. As of 11:34 a.m. ET, the price of an ounce of gold has sunk to $1.256.35, down $12.25, or 1.00%, for the day. Silver's drop has been bigger, down $0.40, or 2.25%, to $12.97. This is a continuation of a bad week for the precious metals. Gold is now at its lowest since June 6 and silver is its worst level since June 23, the day before the UK's vote to leave the European Union.
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