Price of Gold Tumbles

Wall Street Journal wrote:

Gold’s glittering rise came to an abrupt halt on Wednesday as investors piled out of the metal, driving prices down 5.6%.

The decline lopped $104.20 off the price of a troy ounce, pushing it down to $1,754.10. It marked a dramatic reversal after weeks of gains.

The slump began in early trading, and selling accelerated quickly as volume spiked. Ominously, in some people’s opinions, the move came amid very little obviously negative news. That underscored for many analysts and investors how quickly sentiment can turn and how rapidly money can be siphoned out of the market.

Gold’s decade-long rally picked …

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