Gold, silver extend losses as equity rally stalls
Gold fell 2.9% at one point to $4,004.26 per ounce after dropping as much as 6.3% on Tuesday, its biggest intraday decline in more than a dozen years. Silver also declined more than 2% at one point to around $47.6 after falling 7.1% in the prior session.The drop in gold and silver underscored a wave of profit-taking after their rapid gains this year, amid growing concern the rallies have entered bubble territory. “Profit taking moves started to snowball,” said Tim Waterer, chief market analyst at KCM Trade ...