After ending the previous session modestly higher, the price of gold showed a substantial move back to the downside, testing offers.

Gold for December delivery plunged $10 to $1,1179 an ounce after rising $1.40 to $1,211.20. With the steep drop, the price of gold fell to a nine-month low.

The sharp pullback by the price of gold came as the U.S. dollar moved higher in reaction to the latest batch of U.S. economic data.

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