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Gold fell for a third day, descending toward $4,000 an ounce on investors’ concerns the market was overheating after a blistering rally to record highs. Spot gold was down about 0.5% on Thursday, with a technical reset compounded by an exodus of investors from exchange-traded funds. The single-day outflow from gold-backed ETFs on Wednesday was […]
Gold fell for a third day, descending toward $4,000 an ounce on investors’ concerns the market was overheating after a blistering rally to record highs.
Spot gold was down about 0.5% on Thursday, with a technical reset compounded by an exodus of investors from exchange-traded funds. The single-day outflow from gold-backed ETFs on Wednesday was the biggest in five months, according to data compiled by Bloomberg.
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