Gold tumbles in biggest daily drop in 4 years as stunning rally comes to a halt

Gold futures (GC=F) tumbled as much as 5% on Tuesday, marking its steepest one-day drop since August 2020, as its stunning rally came to a halt. Bullion futures hovered near $4,141 per troy ounce, down from Monday’s intraday record north of $4,380, while silver futures (SI=F) also tumbled as much as 7%, in their biggest one day drop since 2021. The move came amid easing trade tensions between Washington and Beijing, a rise in the US dollar, and technical indicators flashing overbought conditions. “Gold ...