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 ...

Gold prices tumbled in their biggest daily drop in years as a stunning rally in precious metals came to a halt. Futures for the yellow metal (GC=F) dropped as much as 5% to hover near $4,141 per troy ounce, on pace for their largest drop since August 2020. Meanwhile spot gold declined more than 6%, seeing its biggest one day decline in 12 years, according to Bloomberg data. Silver futures (SI=F) also tumbled as much as 7% in their largest drop in more than four years. The move came amid easing trade ten ...