Gold’s frenzied rally ends with largest sell-off in over a decade

Gold prices gained modestly on Wednesday after the precious metal’s spectacular rally came to an abrupt halt on Tuesday, when prices tumbled more than 5%.

The drop in the price of gold, which is viewed as a safe-haven asset in times of uncertainty, came as investors took profits from a record-breaking rally and as American and Chinese officials are expected to meet again for another round of trade talks.

Gold was last trading at $4,141.48 per troy ounce at 1:46 am ET on Wednesday, up less than 0.4%.

On Tuesday, spot gold fell as much as 6.3% to $4,082.03 a troy ounce, after hitting an all-time high of $4,381.21 on Monday. US gold futures settled down 5.7% at $4,087.70, marking the steepest percentage decline since April 2013. Silver and platinum also slumped sharply on Tuesday, down 7% and 5%

nalysts said the sell-off followed weeks of heavy buying that had pushed gold to overheated levels.

Gold has seen historic gains in 2025, its more-than-50% surge surpassing previous volatile periods such as after the September 11 attacks, the 2008 financial crisis or even the Covid-19 pandemic.