A Gold Crash Everyone Saw Coming Lures Bargain Hunters Worldwide

A shop assistant places a 500 gram gold bar in a protective pouch at an ABC Bullion store in Sydney, Australia, on Oct. 21. As pictures of queues outside gold stores flooded social media over the past month, professional precious metals traders were getting increasingly nervous. Most Read from Bloomberg Gold is “an overcrowded trade that’s overextended by every technical metric,” Nicky Shiels, head of research at precious metals refiner MKS Pamp SA, wrote to clients on Oct. 6. On Monday, as prices soared ...