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Gold’s rally crashes in the biggest sell-off in over 10 years

From ironfxcn.com

On Wednesday, gold prices gained slightly after the precious metal’s impressive rally came to an abrupt halt on Tuesday, when prices dropped by more than 5%. The fall in the price of gold, which is considered a safe-haven asset during times of uncertainty, came as investors took profits from a record-breaking rally and as Chinese and American officials are set to meet again for more trade talks. Gold was last trading at $4,141.48 per troy ounce at 1:46 am ET on Wednesday, up less than 0.4%. On Tuesday, spot gold fell by as much as 6.3% to $4,082.03 a troy ounce, after it reached a record-high of $4,381.21 on Monday. ... (full story)

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  • Category: Fundamental Analysis