Gold slump eases as traders weigh unwinding of ‘crowded’ bets

(Bloomberg) — Precious metals clawed back some losses after another heavy selloff in Asian trading hours, as traders took stock of the abrupt unwinding of a record-breaking rally. Spot gold fell by about 4%, after tumbling 10% earlier, extending its biggest slump in more than a decade on Friday. Silver dipped by 6%, after sliding 16% earlier and posting a record intraday drop on Friday. Most Read from Bloomberg Precious metals had risen to record highs that shocked even seasoned traders. An already-sco ...