MW: Gold falls 5% after Senate approves bailout plan
By Moming Zhou
NEW YORK (MarketWatch) - Gold futures fell nearly 5% Thursday to their lowest level in two weeks, as the U.S. Senate's approval of a revised $700 billion bailout plan boosted the dollar, reducing dollar-denominated prices of the precious metal. Silver plunged 13%. Gold for December delivery lost $43, or 4.8%, to close at $844.30 an ounce on the Comex division of the New York Mercantile Exchange, the lowest closing price since Sept. 17.