ByTy Roush,
Forbes Staff.
The value of gold dropped more than 5% on Tuesday, pacing what would be the largest single-day decline for the metal in more than a decade, leading a broader metal sell-off as investors appear to step back from a record-breaking buying frenzy.
Gold futures dropped 5.2% by Tuesday afternoon to around $4,130, paring back earlier losses after falling as much as 6.3%, marking the largest intraday drop for the metal since a 6.3% plunge in June 2013.
Futures for silver and platinum, which have risen 60% and 66% this year, respectively, outpacing gold (54%), have fallen 6.7% and 7.2%, respectively.
